₦airaland Forum

mtisTheQubit:
if you want to know the direction then look at what happening in europe an china...

Europe and China are all building more gas pipelines and regasification facilities as they know that their economies cannot run without it.

rvp20182:
Global warming will see it declared illegal by 2030.The same with coal.Many countries already have such legislation.

you are really dumb



All the european countries declaring car usage on oil extinct by 2030 are just looking at something that consume just 10% of the oil market.
that is small. The ships running global trade consumes closed to 30% and no one can eliminate that until probably nuclear fusion becomes available and cheap.

rvp20182:
Stop smoking weed

let me know when you finished smoking the Ghana wee you got yesterday.



broke country always trying to compare itself with countries that have money to protect themselves in crisis time.

mtisTheQubit:
if their economy is around 90% depended on oil then explain the bolded man..about IMF aint you niggas hypocritical..the first thing you did is to run to imf...typical WAs reasoning

their economy is not 90% dependent on oil but just 10%



they have enough money to last them 4 years.

kenya could not even afford to stand alone for a month and runned to the IMF as there was no other country to borrow from.

corporate kenya is broke as government has squeezed them of every single money as patriotism tax to pay debts

Danielnino00:
We aren't showing off mate...we are just trying to let you little Indians understand that we aren't yet in trouble ... It isn't yet time for us to run to big daddy IMF for help like u did..

Where are the rich men and coporate bodies in Kenya?
What are they doing to help your government fight the virus ?

rvp20182:
They don't have the money to pay their army leave alone buying fuel if oil drop to 10..0r you mean even if oil drop to a dollar..they will still be okay

they are not like Kenya that is borrowing to pay debts and salaries


Their civil service and public service are being paid

i cry for the 90% hand to mouth kenyans
hunger

Danielnino00:
Coronavirus only came to compound your misery...

Owino said the country's economy may take longer to recover from the effects of the unfolding economic recession "not necessarily because of the impacts of this outbreak" but due "to the fact that Kenya's economy had already slowed down and was a weak economy to start with".

"Last year, we already lost jobs, and the recession in Kenya was going to happen, nevertheless. Now this only makes it worse. And many businesses that were teetering on the verge of collapse will not make it back alive

https://www.google.com/amp/s/www.aljazeera.com/amp/ajimpact/covid-19-kenyans-brace-tough-times-economic-shock-looms-200329053436760.html

the Kenyan economy is badly damaged and Covid has made it worse as global supply chain are grounded.

no more cannibalism for the kenyan economy.
The Ghanaian government is spending big and kenya cant afford to.

mtisTheQubit:
No man they told you to man up...17 bailouts is too much...

rvp20182:
oil is the past..the future is renewable energy so I am happy if we miss that oil bus

oil will keep running the global economy for another 100 years

until then, renewable energy is just noise

Austine1212:
I think you don't get the implications

the implication is that Nigeria has a buffer to last them 3 to 4 years

mtisTheQubit:
Brent crude was down four percent Friday afternoon at $27.50 per barrel. US crude was five percent lower at $21.47 per barrel.

oil price can fall to 10 dollars and Nigeria will not brace through it without much damage at least for 4 years.

Kenya will not survive even one year of COVID

you are already broke and asking IMF for help

with a price decline
it means they will have enough money left.

rvp20182:
Consuming nation - Do you think they will even have money to buy back refined oil from India . You see after Indians buy their oil at 20 dollars - Nigeria would still have to buy it back.The normal long line of queues and fuel shortages will become worse.

mtisTheQubit:
You requested for a credit man...

IMF said we are too rich
The money is for broke countries like Kenya

rvp20182:
Talk 1B dollars. 100m dollars is spare change. Tullow will pay for itself. The battle is how much they will deduct before they break even and start paying taxes and revenues.

Gov does not underwrite exploration...but allows likes of Tullow to offset their expenses...once productions start.

Talking of Tullow...I think they are going down with Jubilee oil field

Exactly

production was supposed to underwrite your government liability
But since your side under performed because Ghana sabotaged Tullow production here, Tullow has decided to pull out of Yout country.

And according to the contract, if they do that, your government owes them those liabilities.



Pay up before they take you to court and seize the entire kenya.


See what Ghana is doing with That 100 million dollars,
we are building more special isolation centers for all our Regional hospitals.

Whiles kenya is busy stealing Germany governm,et supplies

mtisTheQubit:
small economy na..

funny enough, your economy is smaller than ours and broke

Danielnino00:
How much for those tubers of yam?

7 cedis

rvp20182:
Obtuse as always. Nigeria had budgeted 57 dollar per barrel. Oil accounts for 89% of gov revenues. We are talking their minuscule 25B dollar budget getting an haircut to 25/3 to 8B DOLLARS.
https://www.reuters.com/article/nigeria-oil/update-2-nigeria-to-scale-down-budget-in-face-of-oil-price-crash-idUSL8N2B25KB
https://www.cnbcafrica.com/coronavirus/2020/03/09/us-crude-prices-drop-below-30-a-barrel-after-opec-deal-failure-sparks-price-war-oil-dependent-economies-left-vulnerable/

you still dont get it
even if they budgeted 70 dollars
They are cashing in big because of subsidy as a consuming nation

mtisTheQubit:
Lie to your fellow WAs ...

IMF’s African Department director Abebe Aemro Selassie today made the following statement:

“Last week, the IMF received Ghana’s request for a disbursement under the Rapid Credit Facility to help the country address the economic impact of the COVID-19 pandemic. We are working hard to evaluate the authorities’ request and bring it forward for Executive Board consideration as soon as possible.”

yes we requested if we could access and they rejected that request

rvp20182:
What is 100m dollars?

That is all we need to battle the virus





we also need 1 billion dollars to keep our economy intact.
Our Sinking Fund was set up for this single purpose and it has enough money to keep our economy afloat.

Kenya is too broke such that it cant even pay Tullow

rvp20182:
You seem to be aged but not grown any wiser!

Nigeria budgeted oil at 60-65. Not 45. The hit on their economy and gov is so huge - there is no need to debate that.

Gov revenues (90%) from oil - getting such a huge hit - and plus Debt Servicing ratio that was already at 75% - plus Naira has collapsed. The remittance won't be coming with developed world in trouble.

MAN - NIGERIA IS DEAD AS DODO. KAPUT!

Let talk about Ghana -

Again you dont understand the oil market

Nigeria is the single largest consumer of oil products on this continent.
They are also producers and their 2020 budget was 45 dollars.

Their savings on a 20 dollars oil price from the current subsidy program has ofset the revenue loss.

mtisTheQubit:
Guy an lies

Again

Ghana enquire to access their funds and they said NO because we are not in need of it.




Ghana has already provided 100 million dollars for it own relief
whiles corporate Ghana provide support to the hospitals.

I kept telling you guys that your economy was exposed to so many shocks.

Nigeria budgetted on a 45 dollars oil price and oil is down by more than 50% of that price meaning a 50% shortfall

Nigeria is casing in big on saving from the usual subsidy it used to provide, thereby filling that 50% shortfall.

In other words, Nigeria has lost nothing because they are a big oil consumer.

the difference is that, Kenya is dead broke WHILES both Ghana and Nigeria have enough money to last us a year without touching our reserves.




Kenya will come out of COVID with a lot of debts

rvp20182:
There is big difference btw Ghana or Nigeria backwater and Kenya prudent financial management.
Kenya has been on or wanted to be on an IMF STANDBY facility for exactly this kind of situations.
Initially, we had 1.5B dollars credit line opened...in case we need to tap into it...we never needed it.

Now we need it...to deal with COVID-19.

It's an INSURANCE policy different from the usual Ghana bailout.

If you want to know countries that will go under.

Obvious case - Nigeria- Oil at 10-20 dollars. That country's economy is done. Gone. The likes of Angola and oil dependant countries will see their GDP get huge hits.4

The rest watch their currency depreciation...Cedis we know the story. It similar to Zambia Kwacha.

Kshs took a small hit of 5% to 107 to a dollar..it back up to 104/105...from usual 101/102.

Naira..black market rate is already past 450 . Official rate now up from 305 to 360. Bank rate is approaching 400 naira to a dollar.

theenchanter:
kenya still uses right hand drive?

U're really loyal to ur colonial masters.

Tema Motorway roundabout

90% complete

COVID LOCK-DOWN SHOPPING

it was a worse time for COVID to hit them

they are broke as hell

obaaderemi:
Little India is fvcked in more ways than one: Front,back, up,down, sideways,etc.

rvp20182:
Nigeria economy will collapse with Oil at 10 USD per barel besides COVID.90% of their forex are from oil.Slash that by six times and youll see Naira collapsing to 1000 naira for 1 USD.They won't be able to repay their debts.Their fake GDP will collapse to around 200b or less.Ghana we all know the story.Kenya economic resilience will see it weather this without much drama

your broke economy is already running to the IMF for 1 billion dollars plus without even a single case as at when they applied.

while at it, you also owe Tullow 2 billion dollars that you cant pay

TayserMahrii:
Kenya had done over 800 tests as of yesterday end. And from today mass tests are beginning. Ghana run to IMF as soon as they confirmed the first case as well, though for them it was more a matter of running to daddy as usual. How many tests ave you done? You havent done more than Kenya unless you prove it. With proper testing you should be having close or more than SA confirmed cases.

Ghana has not asked IMF for money

Ghana inquired if it could accessed IMF 10 billion covid fund and they said NO
because Ghana has 200 million dollars sitting for a NEW VOTERS register and a 100 million dollars also sitting for a NATIONAL CATHEDRAL that we have no need for.

We also have almost a Billion dollars sitting in our sinking Fund that we can access.

we are not broke like you guys in Kenya.

i dont know what wee you are on

but it seems to be really powerful

Dlonra:
Mombasa City.
City with the second largest port in Africa after Durban. World class road and Rail infrastructure included. The getaway City for the mainland city Nairobians. It's funny that Mombasa can comfortably out do capital Cities like Accra

sure

TayserMahrii:
True...As someone said, its either 6 feet wide or 6 feet under

Social distancing or death

TayserMahrii:
Wish you a sweet lock down

All good for health purposes