₦airaland Forum

9japrof:
I dislike APC and their propaganda but I don't pray they fail, you know why ? cos if their fail, the Nigeria project keeps failing and it boils down on the common citizens like us who would bear the brunt fully.

Nigeria needs surgical procedure, that's the only remedy, but how would that surgical procedure come about, don't even bring in the revolution ish here cos it cannot work in the multifaceted and polarised country like Nigeria where tribalism and nepotism holds sway. We are stucked for good

The only revolution that can happen in Nigeria is the one engineered by foreign elements like what happened in the Arab Spring. Such revolution will favor those who engineer it than us, as is evident in Libya and Egypt that have become too destabilized to ever be worth living in. And trust me that is easy. After all, the US and UK provided the needed push to install a Jihadist as the president (with amongst many other subtle things giving Buhari the campaign director of Obama and warning the Nigerian government in advance not to dispute election results).

So yeah, a revolution engineered by the masses for our own benefit is not possible.

With that said, I would rather they do not fail. But ultimately they will, and trust me the citizen need a failure than a success. If oil price did not fall and the economy did not go bad, no one will be talking about #buynigeriatogrownaira or the renewed call for #truefederalism.

If things improve now, all of those clamors will die down faster than a candle going off in an hurricane. We would start talking about increasing wages without first thinking about how we would raise the money to foot the growing bill, or how to pay our rising debts. In fact TUC is already asking Buhari to start drafting a new minimum wage, at a time when workers in states have not been paid salaries, we are running a N2.2 trillion naira deficit (that may rise to N3t), and use N1t every year to pay interest on our debts. People will just go behave as if they have akamu in their skulls.

Then 2019 they will vote based on sentiment and continue passing blames.

I don't feel sorry for Nigerians. If you are enlightened, it is left for you to enter the middle class or higher and protect your finances. Naija na OYO. This patriotism na wash.

-Lord

Reference:
Why pipelines. Why not locate the power plants right there at the gas fields. Instead they scatter them round the country for ethno-sentimental reasons. If a particular gas well or a collection in close proximity can sustain a 10 megawatt plant so be it. The oil majors have been doing so for decades to power their operations and host communties. In the US and europe there are thousands and thousands of plants of all sorts of sizes and fuels it is impossible for system collapse to occur. Must every plant be 500 megawatt and located in someone's village a gazzilion miles away. Poor strategy. Foolish thinking. It is like building a dam in Lokoja and then piping high pressure water to turbines in Lagos. Daft.

It will continue to be like that in a country where a head of a parastatal is questioned by a sitting committee of elite national legislative members for not promoting enough northerners. In a country where everyone from CJN to COAS to governors will constantly move important institutions to their respective villages or towns that are cut off from civilization. In a country where a president is crucified for not "doing enough" for his people.

The northerners, especially people in Katsina, will hail Buhari if he establishes a gas turbine in Daura than in Forcados where the gas is produced, not minding the high logistic and operational cost in the long run.

When Jonathan wanted to start the war on BH, Buhari said in a meeting with sitting northern elites that Jonathan is rewarding those in the south blowing pipelines with amnesty while he wants to kill their sons in the north. This same ignoramus became the President a couple of months later. Would you imagine all the dust that would have occurred if Jonathan had broken the principles of federal charter and simply played the dumb card by doing as he wishes? There would be impeachment calls and labelling him a tyrant. After all, because he simply prayed in a church, he was called useless. He visited Israel for pilgrimage, and a Sheikh called it an "insult on muslims."

Later you find those in the minority south whose rights have been trampled upon shouting Sai Buhari and bowing to the Northern oligarchy. Even the myopic West would call themselves sophisticated because they are following the conquered muslims and slaves of the Northern oligarchy (Tinubu, Fash, Aregbeseola) who just happen to share the same ethnicity.

Let Nigeria continue like this. It serves us right until we are able to develop a functional brain.

-Lord

Adminisher:
Please let us be factual.

There was exactly ZERO construction or commissioning of coal fired plants during Jonathans time. All i remember is an MOU.
Infact the ex minister of power signed more MOUs than contract agreements throughout his term.

Coal is the best and easiest solution but GEJ did nothing to turn around the coal mining sector . All Buhari has done is also mere good intentions as well.

With privatization still underway, MOUs are just as important as contract agreements. Construction is done by private entities right now to protect wastage when government fund these projects. These projects take time to kick off because the private investors need to make concrete plans for financing. So Jonathan laid the ground work to welcome interests that are already materializing. It is innovative because no president had done so from Nnamdi Azikiwe until Yaradua.

So I wonder what your gripe with Jonathan is?

Geometric Power and One Energy Platform have already established timelines way before Buhari stepped into power.

About the ex-minister signing more MOUs than contract, it just shows that you want magic, which is why you voted a magician that is currently scamming you and your ilk.

Jonathan was privatizing the power sector, in fact it is still on-going. What we have achieved is complete privatization of the distribution to form the discos you hear about. There are still plenty of efforts to be made for complete privatization of the generation and transmission sub-sectors.

That is why he had to sign more MoU's than contracts. Electricity is a capital-intensive business. Players break even in around half to a decade, then make their profits way some 10 years after. It's not telecommunications. No one will just dump huge amount of money in a volatile economy like Nigeria without doing their due diligence and committing the government.

Now that Buhari has succeeded in making Nigeria unattractive for FDI, were are the MoU's to sign talk more of contract or commissioning of projects.

One problem in Nigeria is that most of us; who get to make the loudest noise by the way, pull more followership, and vote based on sentiment than on facts; have very little understanding of the problems we face.

That is why people can jor believe lies like 5000 naira for 30 million unemployed graduates (Obiagelli, I see you) without figuring out where the money would come from or the importance of such welfare package is.

OBJ spent 8 years, invested $15b and generated 1500 MW, now you expect Jonathan to continue commissioning phantom projects that would be jeopardized by the same partisan, unpatriotic elements that are currently jeopardizing his efforts long after he has left the seat, without following due process by having complete mutual understanding with the private investors that would bring in the money.

China used $20b to construct a 22,000MW dam. Nigeria's current reserve is $27b. Do you think Nigeria has the money to deliver uninterrupted power supply to 180 million people and over 100,000 businesses with a combined electricity demand of at least 100,000 MW (according to Manufacturing Association of Nigeria)?

Nigeria is poor and broke. If you think signing MoU's was too slow, no problem, let us wait till 2019. Since you will say 9 months is not enough to assess the performance of Buhari and his team of noise-makers. I want to see the magic that APC will do to make Nigeria produce 10,000MW by 2019 with all the stupid noise they are making, if they do not sign the same MoU's.

-Lord

obailala:
I totally agree with you on the coal matter, I understand the need to utilise Nigerian gas for power generation (instead of flaring it off). But the recurring issue of gas supply cuts has become to worrisome for ages and viable alternatives have to explored. There is absolutely no reason why Nigeria shouldn't have at least one or 2 mega coal power plants around the Enugu/Ebonyi/Benue/Kogi axis. These areas have abundant supply of coal, and unlike gas whose interrupted supply can instantly lead to a shutdown of the plants, sufficient buffer stock of coal could be stockpiled at coal plants to account for an extended period of a supply cut. This over reliance on gas really has to stop if we must make any progress in power generation; it's really disheartening that the nation's power supply can just nosedive by almost 50% within weeks.

I think the policy makers are subtly against the coal idea because it will have to be located in the SE axis. The first coal electricity project started under GEJ was by a private consortium. It will be interesting to see what Buhari and Fashola say about it. As for this year, none of Fashola press statements has mentioned anything about coal.

I think like the refinery and tomato paste private sector revolutions, coal electricity production is one sector that will need private sector revolution if it needs the support of the federal government. The major problem is that the power sector is a capital-intensive sector especially the production/generation sub-sector. Our banks can't sustain the amount of loan involved citing the lots of bad loans they have and the current state of the economy. FDI is at its lowest levels in 5 years, the privatization of the electricity sector is not yet complete, so we cannot exactly count on foreign investors to throw their money into private coal electricity production.

About the gas, it is a fairly recent idea to base the bulk of our electricity production on gas. It used to be the dams. So challenges are expected. However, the stakeholders have to figure out a way to check the frequent vandalism. Now is the time to do goat and yam theory because Nigeria does not have the finance or means to monitor all the gas pipelines with manned security guards, and brute force is not a solution.

If true federalism was in vogue, this problem would be far less severe. So right now, it is very difficult to say how we can curb this. Even the oil pipelines that is predominant in just two zones (SS and SW) with a standing military force (JTF) and contracted private security (Tompolo (before his fall out), Ayiri (still has his contract) et al), and billions of naira spent on security, we still have vandalism from the creeks in Bayelsa to the slums in Ijebu. It's now vandalism of gas pipelines throughout the country that we would be able curb?

Buhari and Fashola has to act fast in this regard because there is no more oil boom, oil will remain at perpetual lows for the next couple of years, so we cannot afford to be sinking money in the wrong hole. Moreover, if investors don't make the profits they expect in time, it will greatly undermine our privatization efforts.

-Lord

huntax:
Must people always compare present and past governments whenever issues arise? It's becoming childish to be frank. Even the purest led government encounters challenges. Jonathan wasn't improving and we opted for a change in government. If this one doesn't improve, we will do the same. Stop making it seem as if Jonathan would have done better. If the vandals were killed like fowls, you'd all come here and accuse Buhari of being a military man.

Na so una go dey do trial and error until you die and your children will continue from where you stop.

Jonathan did more for the power sector than any leader in Nigeria's history.

OBJ invested $15b in power and got only 1500MW.

Jonathan used his tenure to scrap the useless behemoth NEPA/PHCN. Do you know how much he used to settle the greedy and unpatriotic PHCN officers that did not employ a new engineering graduate in over 20 years. Did you not hear of the man that used his 5 million naira severance pay to buy Jeep. That is one man, imagine how much other workers got. All just to unbundle the bleeding behemoth.

Today, private companies have started employing thousands of engineers and workers.

Next was to revamp the transmission lines that are suffering from much inefficiency, increase electrification and call on private entities to ramp up production.

So, don't turn your ignorance to fact.

GEJ was performing. Nigerians did not see it because they like miracle. Like how power improved immediately Buhari stepped in. That is what your kind like to hear. You will say we should be patient and give Buhari time, whereas you would be blind to the concrete steps made by GEJ.

Barth and Nebo were Nigeria's best performing power ministers. Both were appointed by GEJ. Barth resigned on his own after receiving plenty of threats from the same people that supported Buhari. Now you expect Buhari to magically transform the power sector with the same people that threatened Barth backing him up.

Look beyond your nose mate.

-Lord

kYjelly2:
Kudos umbre!

Let the zoo inhabitants know that coal is the way to go!!

Don't mind them. It was under GEJ that the first coal electricity production plant was commissioned by a private company. I wonder if that project will be continued, now that Buhari is there. Or if more coal plants will be commissioned by Buhari.

No expert has said we cannot use coal electricity in Nigeria or that we would not derive the same benefits countries like US, China, South Africa and the rest of the world is deriving from using coal to produce electricity.

The worse part is that Nigeria has a very huge market for electricity. The total estimated demand including industries according to MAN is at least 100,000 MW. Then Nigeria can export electricity to the entire West Africa, spreading our influence and bringing in more revenue.

-Lord

9japrof:
I am not a professional in the energy field but why must we continue with old ways that had been proven to be ineffective. sometimes I wonder whether this country is cursed, we have been doing this national grid stuff for many years and it is proven to be ineffective and we still insist it must work.

Why don't we unbundle the power stuff into six regions, the south south has the gas(we use the gas turbines to power electricity there) south east(Enugu) has coal, (get coal fired turbines to power electricity for the eastners {after all China and south Africa still use coal to power a large percent of their energy needs}. The north here has sun and dams (e.g Niger state with kainji, jebba, shiroro dams) use it to power the energy needs in the north. etc.

Why would we spend resources pulling energy to one national hub and still spend resources to distribute this energy and no doubt energy is been lost during the process.

People brought in APC to bring about change with the way things have been going before. the large carmotose of the national infrastructure can not be blamed on them but the truth is that it is always easy to criticize when you are not in the helm of affairs (e.g the silly sunday oliseh was so vocal during his time as a TV pundit, criticizing the then coach and the national team, Buh when he came on board he failed miserably)

Talk is cheap, I expect APC to change the political structure of this country, that is the only way we can develop, when regions compete effectively using the available resources within their regions and not depending on the entitlements from the centre, then we can grow. A million Buharis can't make Nigeria better without making the state/regions viable.

What are the advantages of unbundling Power are:

we spend less on constructing gas pipes from south to north (thereby saving foreign exchange Lol), that been said , less sabotage less maintenance.

People in the region would hold people around them accountable for the energy problems they have. people would tend to protect power facilities in their area cos they know that if it is vandalised they suffer it.

Common sense ain't common

Your sense dey there. We need true federalism in this country if we really want to develop in less time.

It is a good thing that APC is failing. At least, people are now receptive of the idea of seeking a long-lasting solution than banking on fake promises.

-Lord

Omoakinsuyi:
Buhari made a grave mistake appointing Fashola Minister of power, works and housing. He should focus on power alone

Fashola is not the issue. I know he has already made mistakes like the tariff issue, but don't blame him. The problems are bigger than one administrator. After Nebo and Barth did their best and things remained the way they were, I knew Nigeria's electricity problem is structural.

-Lord

prince3009:
Power supply from Dams tanks heavily during the dry season! Solar Energy is the way to go!! We have "plenty of Sun" in Nigeria wasting away for nothing

Solar is too expensive.

What we should invest heavily in is coal power. More electricity is derived from coal worldwide than any other source of electricity. It is cheap, we have plenty of dormant coal reserves in Nigeria.

I think Buhari should also do something about the vandalism. Even if na to setup special task force that stretches through the host communities. Contract the local vigilante of the host communities. And give strict conditions should leak or vandalism occur in their domains.

Nigeria's security apparatus cannot guarantee the smooth operations of all the pipelines in Nigeria. If we have surplus of gas and use gas as a major driver in the production of electricity, I wonder why we would allow pipelines to be vandalized at will.

If it is oil pipelines that will disrupt oil production and stop money from flowing into the pockets of the northern elite, they will send battalions. But when it is gas pipeline to supply gas for production of electricity for the average Nigerian, they will sit in their AC office dishing out propaganda because they run the administration on diesel generators.

Nigeria's problem is the structure. It is too defective. The President would do nothing because he doesn't have the right advisers, or because his advisers serve other masters. If the minister does something on his own, it would have no weight because civil servants have their own agenda. Even the security people have their own agenda. Community people have their own agenda. Youths have their own agenda. Electricity producers and distributors have their own agenda.

We are just been pulled in all directions. That is why electricity supply in Nigeria will keep dancing back and forth. Even if you make Thomas Edison Minister of Power (Works and Housing) in Nigeria, the glut will still remain. We have to restructure the country, because it is the same rot that is affecting all the sectors.

Imagine ASUU asking the FG to exempt them from TSA. After they run universities like independent economies and receive more salary than the soldiers protecting our lives and property.

-Lord

olalat:
Pls, whats fiscal policy? School me a little abt it. You call someone zombie while u need ur head checked. Many of you, who can nt identify d source of our present economic predicament will jst come on internet nd be typing rubbish. Can u even tell me d literary meaning of policy? Do u think a reasonable govt will allow importation of all sorts of rubbish into d country? What do u know?

Waste of time to reply you.

The importation that was stopped was a monetary policy by the CBN because of dollar shortage.

The dull.ard did not even impose a working fiscal importation policy, rather Buhari lifted bans placed by GEJ on textiles and furniture when he became president in June 2015.

Now you know your own messiah allowed the importation of all sorts of rubbish into the country, when the former better government banned such rubbish from getting in.

Going by your statement, the stupid government of Buhari is "not reasonable". Now, if I lay a curse on you for voting out a reasonable government and voting in an unreasonable government, you will start returning insults, when you truly deserve one.

But there you have it.

I may not know everything, but I certainly know more than you do. Thus making my support of GEJ a more enlightened and far better choice than your support of Buhari.

But the elections are over and Buhari won because we have a surplus of your unintelligent zombie minds in the country. Please, ask Buhari to make good fiscal policies before it is too late ooo. Nobody is dragging the seat with him. He is C-in-C. If he does not perform, we will have to woop his ass and that of your party come 2019. The time to act is now.

-Lord

greatiyk4u:
I tire, why can't the OP speak 4 his self?
No genuine supporter is disappointed to the extent of loosing hope.......

Buhari may not be the best but surely not like the rest.


#Patronize my signature even if u don't like ma opinion

Now he is not the best. I though you guys said he was the messiah!

I like how you guys are eating your words and playing defense after being in the offense for a long time.

Una period don dey end. If you don't want it to end, better advice Buhari to do something now. E never late. Setup fiscal policies, talk less, and do more.

-Lord

Good! Shebi they voted for PMB? Let them deal with the consequences.

Fulani, do whatever you want. NC no serious.

Instead of you guys to do the eye-for-an-eye treatment, you are here bleating.

I remember how you guys did the "I don care" attitude when SE and SS were at the receiving end of the Fulani rampage.

It is now our turn to turn a blind eye to the Fulani massacre and killings in the SW and NC.

@Karma, will you marry me? Love you to the end of the world and back!

-Lord

ddippset:
there's no politician who doesn't make and fail promises. At least in our dear Nigeria. Gej and the pdp broke tens of promises. Buhari will salvage the economy, but as long as the oil price remains down, its going to take a lot of time and patience

APC did not sell Buhari as a politician. Buhari was sold as an elder statesman, past general, and a man of integrity. Everything that a pot-belly politician is not.

So, a man of integrity cannot make and fail promises. It is wrong on all fronts. It is either he makes promises he can fulfill or not make promises at all and do more than is expected. I would have preferred the latter, but alas APC/Buhari were too desperate that they chose the former.

Buhari does not need increased fuel price to salvage the economy. Nigeria still makes profit from the sale of oil and even our output of oil has increased. Let him do one before doing two. First stop the fall, then stabilize the economy, then make the economy grow.

Right now, he is not even thinking about this as a process, he lacks direction.

-Lord

Nigerians should be rest-assured that there will always be an explanation for any goof of the PMB/APC administration.

Right now, I am more concerned about pointing out the errors than expecting APC/Buhari to take the blame for anything.

-Lord

ddippset:
yeah let's forget about the past and not blame gej or anyone. But the non appointment of ministers though, shouldn't that belong in the past too? I think it should! We depend on oil for 95% of our economy, even a team of the best economists and financial experts in the world could never have salvaged this situation in 9 months. Buhari might have promised a lot, but he aint got no magic wand! What we need to do now is encourage and support, not blame anyone ; gej for supervising the astronimical looting of our funds and buhari for failing to appoint ministers because like you rightly said, they are all in the past.

So he knew he did no have a magic wand and he was promising heaven and earth.

A team of the best economists and financial experts in the world could have salvaged our situation in 6 months. Nobody is asking him to reverse the tide of the economy, we all are saying, stem the tide. If he cannot stop the fall, then he is a complete dullar.dinho!

I will continue to blame Buhari for failing to appoint ministers, if you still want to blame GEJ, by all means do so. But when the chips are down, the current president of Nigeria is Buhari, so the bulk rests on his table. 180 million Nigerians will blame him for the rot he leaves. The same way 180 (-12 million that voted for GEJ) blamed GEJ prior to the elections for the state of the nation even though the rot had started way before him.

Buhari can still change the perception and record of his government, but he has to act quick. I wish him the best, but make no mistake I will point out his failures from the mountain top and place the blames squarely on him.

-Lord

francizy:
Very idiotic statement from you.

It seems you don't read news were those bastards perpetrate such attacks in Enugu, Imo and Abia states? This is how Igbos and Yorubas foolishly built a divide among themselves and instead of coming together with SS and NC to resist this evil, they measure dicks and try talking of who was attacked or killed more by the useless terrorist herdsmen.

Let us continue basking in our stupididty until the terrorists brings the fight to our compound fully, OK?

Yes, and when those bastards attacked SE states, show me the support the SE received from SW and NC people? Show me?

What about when it was SS states especially Delta, show me the support the SS received from SW and NC people? Show me?

Some communities in the SS and SE have fought the Fulanis off by killing them en masse such that they do not have the effrontery to strike in a coordinated attack again. We helped ourselves.

If the SW and NC people are not ready to help themselves, let the Fulanis do as they want with them. Kill, maim, rape, whatever it is the Fulani people feel like. They will not receive support from the SE and SS, especially me. They are on their own.

Or tell me why you feel the blood of the SW and NC people are more important to draw condemnation than the blood of SS and SE people?

Don't quote me kid!

Patriotism in Nigeria is a wasted effort. Think of yourself first, then your immediate family, then your extended family, then your community, then your local government, then your senatorial district, then your state, then your region, in that order, before you even think about Nigeria. Failure to do so is stupidity.

Let the Fulani try that massacre on SS or SE soil, those that were foolish enough to be used by their coward leaders will pay the ultimate price.

-Lord

olalat:
He should act and do what exactly? Print dollar or naira? Buhari is on d right track. Lets all brace up 4 d challenges ahead.

Put in place working fiscal policies. He can set things in motion before the budget is passed after all he started ruling May (so he has half of the 2015 budget) and collected more money late last year (supplementary budget).

The only right track Buhari is on is to the right track to be stoned.

I started bracing for the challenges when GEJ lost. I'm well fortified against it, but I'm not sure about millions of Nigerians including your zombie ass. Give Buhari good advice now before it is too late.

-Lord

nortcentrallord:
Omenka say something to the cheer of your likes. You have just grown silent these day's why?

No mind am, he don lele like fowl wen rain beat.

If na GEJ time, he for don dey bleat like ram wen dey heat.

Allah, make fulani do genocide finish him ppl. When the fulani b dey ravage SE and SS, he b dey yarn opata say na change... Now eye don clear, dem done dey use e ppl test newly purchased weapons.

-Lord

Kenai:
The crude oil price tumble began as far back as 2014 (before their campaign even kicked off) such that, as at January 6th of 2015, it was already below $50! So, why are they lying?


http://saharareporters.com/2015/01/18/crude-oil-price-why-fg-must-revert-n65-now-kikiowo-ileowo

My God! These people have absolutely no respect for their followers with their unintelligent lies, and I honestly can't blame them for it.
Afterall, the truth must be said: Did their followers really carry themselves as people of intelligence, principle and self respect?
The fact remains that you can't come out in public saying you'd vote a person if he presented his NEPA bill as his educational qualification, and STILL expect people to respect you for any reason whatsoever! No. It is never done. Believe it or not, even the NEPA bill holder would take you for a fool after you've made such a statement, and would treat you as such from there on out. And that is exactly what is playing out here.

1. If a full-fledged graduate could come and proudly say he'd vote a man if he presented his NEPA bill as certificate, would you respect such a person? If you were an employer, would you even think of employing such a person?

2. The fact that these people constantly cooked up excuses in defense of many of Buhari's baseless and impractical promises was enough to raise red flags on their personal values and principles.

3. That they could actively, and BLINDLY, support Buhari's decision to unnecessarily delay the formation of a cabinet, while rubbishing the idea of ministers (as noisemakers) in favour of permanent secretaries was enough ink to paint a true image of their self esteem and confidence (or lack of it) on their own intelligence.

4. That they could try to justify and defend the PATHETIC budget only to equally DEFEND (again) Buhari's decision to pull it, and then come out AGAIN to DEFEND the man's irresponsible act of blaming perm secs for the terrible budget they had initially DEFENDED as perfect? That pretty much gives you an insight into who they truly are. Mindless sycophants, unworthy of a noble name.

Please, don't blame Lai Mohammed and Buhari for this one. They are only treating you the way you presented yourselves.
You did not exhibit any intelligence when you blindly defended them, so they shall not treat you as intelligent people.
You will swallow every one of their lies because you deserve no better.

You sow, you reap.

1 carton of origin for you, you are a true son of the soil. 1 bundle of ankara for your mama, she born better pikin. Your papa na all-expense paid vacation in any country of his choice, the man try, walahi!!!

-Lord

fuck419:
May your almighty Allah punish you and your generation. may the almighty Allah punish the emir, the Nigerian police and lord lugard. Amen.

Your moon god can't do sh1t to me!!!

I do not even have to curse you, you are already cursed living in your despicable situation and being punished with that loafer you call a brain.

Get off my f***king mention...

-Lord

ddippset:
you made very good points by pointing out countries with huge reserves like the saudis with 700 billion dollars but you had to blame buhari for not appointing ministers instead of blaming those people who embezzled all our money when oil was 140 dollars per barrel?

I believe we have spent the better part of 7 months blaming people that embezzled money. That is a stale story and apparently it was the reason why Buhari was elected.

The dearth of current economic recession is 70% caused by Buhari's inaction. His continued inaction will be the reason why we would fall to the abyss if June 2016 does not pose good news for global oil price. I'm optimistic, but the truth must be said. Let Buhari start making hay when the sun shines. Nigerians are slowly losing all confidence in him. Rather than gamble completely with the June OPEC meeting, he should set measures in place to protect the Nigerian economy in case things go south.

You cannot blame GEJ for not planning well in advance for bullish periods (even though it wasn't entirely his fault), and then absolve Buhari for again failing to plan well in advance of what may be a worse bullish period.

The same way people blame GEJ for not saving enough, people will blame Buhari for not doing enough to stem an economic recession when he could.

Again, I am not a prophet of doom, and I think there is a 75% chance OPEC will make a production cut deal on or before June 2016. However, we must also make provisions should the worst happen.

-Lord

asha80:
just watched an Iranian official been interviewed and he said Iran cannot set an oil embargo on itself by cutting any oil output.That Iran is going to reach their production level before the embargo before it even listens to any talk about cutting back..he said it in such a way to suggest that other oil nations should not bother them about cutting oil output

http://money.cnn.com/2016/02/28/news/economy/iran-oil-production-deputy-minister-interview/

Yea, I read that too. However, you must note that OPEC cutting production alone can make oil price rally up.

Saudi Arabia and industry watchers have always known Iran will not cut production any time soon as early as 2014 when the nuclear deal between US and Iran was wrapping up.

If I was Iran, I wouldn't cut production either. They need to sell as much oil as they can produce to reverse the debilitating effects of sanctions they have been under. And Iran has political reasons to push up their production when 95% of muslim OPEC countries are political enemies especially Saudi Arabia, the UAE, and now Nigeria (with the Zaria shiite massacre).

I think what SA will be more concerned about is the position of the US shale oil producers.

With US and Iran on one side, it would be interesting to know what Saudi Arabia will decide to do come June this year. All eyes are on Saudi Arabia.

-Lord

spinoff:
Die-hards :-)

http://mobile.reuters.com/article/idUSKCN0W20JH

Paste the whole content here. That's how it's done on NL.

I think that is not a good news considering that Saudi Arabia had finally agreed to a freeze.

Let us continue monitoring the situation and what will happen in June OPEC meeting.

Someone should tell Buhari to start making hay while the sun shines ooo. If OPEC no freeze output by June, kasala go burst for this country ooo. Russia, Saudi Arabia, Qatar don already dey plan ahead, na only Nigeria dey wait for increase in oil price.

-Lord

asha80:
http://mobile.reuters.com/article/idUSKCN0W20JH

I hope kachikwu is aware

Seriously, that thing no concern Kachikwu. Na Saudi Arabia problem be that.

In the long run that would be a problem for Nigeria since it is becoming increasingly difficult for us to sell our oil, but I think Kachikwu and PMB is under a lot of pressure to do all they can to push for an oil freeze that will see oil price increase right now. That is their immediate problem.

The article you pasted is a recent article, which underscores the reason why I said we should plan for the worst. Saudi Arabia has already frozen output to January outputs, a freeze deal might be similar, so that the rise in rate is only marginal or to guard against more fall in price than to guarantee increase in price. Which means, we may not really get the major rise we are hoping for, and will greatly affect our finances and MTEF. Make hay while the sun shines. I am warning Buhari!!!

The fall in oil price is solely orchestrated by Saudi Arabia. They could have enforced a cut and other OPEC producers will follow suit. But they let the price drop because they wanted to checkmate the growing rise of the global market share of US Oil producers.

Their plan has been vaguely successful so I expect them to take a break middle of this year, then let things slide more later on if the US shale oil are stupid enough to try to be too ambitious again.

-Lord

Abagworo:
The VP is right. He said "no new roads". None of the roads listed were conceived and completed in the last 10 years but rather are roads constructed by previous administrations either reconstructed in some parts or maintained in others.

Sh*ge!!!

After reading the article and seeing pictorial proof, you still had the effrontery to write that trash. Me no go swear for you. You are already behaving like someone who is cursed.

That Von-Machok road no be new road ba?

-Lord

Uya, Passingshot, vedaxcool, obiagelli, omenka, keneking, modath et al... Come and defend the VP.

Instead of the Professor to bow his head in shame for being the coordinator of the economy when investors ran away with N2.2t under 9 months, he had the temerity to insult God on a pulpit as an anointed preacher.

Chai! APC! Una dey break record sha!!!

-Lord

I am hopeful too.

June 2016 OPEC general meeting might see a freeze deal come about. If it would get to $50 is not something I'm sure about, but it should exceed the $38 which the finance ministry pegged the 2016 budget on.

Now the issue is how to address the huge N2.2t deficit and place proactive measures in place in case a freeze deal does not happen. One can not really be certain. Russia has already planned ahead. Saudi Arabia has already planned ahead with $700b in reserves. Qatar is the richest country in the world by GDP per capita (their population is only about 2 million people).

Nigeria cannot afford to rest our hopes on the backs of countries that can afford to run their economies for the next 10 years on current oil price. Buhari should act now. We are already feeling the effect of his docility when he refused to appoint ministers for 5 months. If he hopes on a freeze deal and that falls through, the weight of the recession will overshadow him.

-Lord

vedaxcool:
While GEJ's destiny is to bankrupt Nigeria yours is to defend criminals, a court has summoned tompolo, he is committing a crime by ignoring the court and holding it in contempt, you cannot get it, you will never get it, because it is beyond your intellectual level and comprehension ability. You simply proved my point, you hypocrites are just being hypocritical! Now go find another criminal to defend for a living!

Talking about bankruptcy, Is GEJ the President who made Investors to withdraw N2.2 trillion from the economy in under 9 months?

Tompolo's lawyer has made it clear that it is legal for him to the represent Tompolo in absentia.

My gripe with you is calling Tompolo is a criminal, when only you have said only a guilty verdict by the court makes Tompolo a criminal.

So answer me, who is hypocritical? Is it not you that is talking with both sides of your mouths on the same issue? Your hypocrisy is legendary!

-Lord

vedaxcool:
IF he is not a criminal why running from the law? Do you know being fleeing the law is a criminal act? If he isn't a criminal why did government have to grant him amnesty? Like I said hypocritsy explains your condition, you suffer an acute form of it! We know tribalism is a problem in Nigeria but to use it as a basis to defend criminals from your village is just too low even by PDP's criminal standards!

Did he tell you that he is running? Tompolo is in Nigeria. If the security operative want to arrest they should do so.

Tompolo's days as a freedom fighter are gone, the amnesty is to shield him from any prosecution as regards his involvement in the militancy. As long as Nigeria is concerned, as regards the militancy, Tompolo is not a criminal. He has been absolved by the amnesty.

Tompolo worked for the government from Yaradua's time till early last year. He is a government consultant, not a criminal.

Until the court says Tompolo is guilty, Tompolo is innocent of all charges against him. If you call James Ibori a criminal, I would agree with you. But you cannot call Tompolo a criminal. That is myopic and clear showcasing of misplaced hate.

If I don't stand for Tompolo as a fellow indigene of the Niger Delta, is it your bigotic ass that will stand for him?

Let them mention the names of the Halliburton scandal and place OBJ in Jail.

-Lord

oduastates:
Bigerians should simply as for the dismantling of the National Assembly

Guy ez na. That is how you guys called for the scrapping of Supreme Court.

There is something here that is a laudable gesture. For both of them to reduce the expenditure from N10b to N1b is laudable. If na David Mark and Tambuwal time, no amount of criticism would make them change that figure.

-Lord

olsmade:
Pray, tell me about it. Tompolo sold land to the government??!!!!

Yes. He sold land to NIMASA for use to establish the Maritime university.

According to Buhari, that is a crime. Whereas, he is paying rent for Aso Rock. And there is a ministry that wants to use N5b to buy land to build office block in Abuja in the 2016 budget.

-Lord

vedaxcool:
You truly should have nothing further to say, a baby born yesterday will easily tell you that all the issues raised is left for a court to rule upon not nairaland.

So you knew that it is left for court to decide, and you have already labeled him a criminal abi?

Tompolo's case is politically motivated, don't muddle it up with Yenusa's paedophile, kidnapping case. Kidnapping is a capital crime in Bayelsa. If we had state police system, Yenusa would have been extradited to Bayelsa to face his kidnapping charges, then hanged after he is declared guilty.

This is why we need to restructure the political system in Nigeria.

-Lord