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PoliticsRe: Caption This Picture Of Reno Omokri And President Tinubu by malali: 10:03am On Oct 03, 2024
I see nothing but "uremia".
PoliticsRe: Reno Omokri And President Bola Tinubu At The Villa Yesterday-photo by malali:


Look closely, zoom into Tinubu's Face.

I see "uremia" all over the president.

Whats the president hiding, with all these regular visits to hospitals abroad.

PoliticsA National Honour For The Speaker? How About Honour For The People? by malali(op): 5:41am On Oct 03, 2024
It’s hard to reconcile what’s happening in Nigeria’s House of Representatives with reality. A motion, signed by 360 members of the House, passionately calls for Speaker Tajudeen Abbas to be awarded the Grand Commander of the Order of the Niger (GCON)—a title higher than the one he’s been given, the Commander of the Order of the Federal Republic (CFR). The same fervor and enthusiasm with which they’re fighting for Abbas to receive the same title as Senate President Godswill Akpabio is not only ironic, but deeply disturbing.

In a country beset by crises—ranging from rising insecurity, staggering poverty, rampant unemployment, dilapidated infrastructure, and a healthcare system hanging on by a thread—one might expect the nation’s lawmakers to rally around pressing issues. Yet here we are, witnessing 360 elected representatives expend energy, time, and collective focus on a matter as trivial as whether Abbas’s title is grand enough.

The Deafening Silence on Real Issues

Let’s get one thing straight: the House of Representatives has been conspicuously silent on matters that actually affect the citizens they represent. Whether it’s addressing the staggering inflation rate, fuel subsidies that have plunged millions into abject poverty, or the woeful state of healthcare that forces Nigerians to seek medical attention abroad—our so-called representatives have had little to say. But suddenly, when the issue is a national honour, they’re all fired up.

This is the same House of Representatives that has failed to pass meaningful legislation to address insecurity, which has seen bandits, insurgents, and kidnappers terrorize citizens across the country. This is the same House that has done virtually nothing about the unemployment crisis that’s driving Nigeria’s youth into either hopelessness or emigration. We are talking about a legislative body that couldn’t muster half this energy to hold public office holders accountable for the billions siphoned off through corruption, nor have they been vocal about the deteriorating educational system, where students face constant strikes, underfunded institutions, and poor learning environments.

But for a title? For the honour of one of their own? Suddenly, all hands are on deck. Suddenly, 360 signatures appear.

360 Voices for a Title, Zero for the People

How is it that a motion to elevate Speaker Abbas to the rank of GCON received 360 signatures? This may be the only time in recent history that the House of Representatives has exhibited this much unity and determination. Where were these voices when Nigerians cried out over the removal of fuel subsidies that tripled the price of petrol overnight? Where was this unanimity when citizens called for an increase in the minimum wage, as the cost of living soared to unbearable levels?

The hypocrisy is staggering. The House of Representatives, elected to be the voice of the people, has become the voice of entitlement, self-interest, and egotism. These same representatives who are so eager to abolish the “upper chamber and lower chamber” labels to equate themselves with their counterparts in the Senate have seemingly forgotten the very reason they were elected: to represent the people, not themselves.

Have They Forgotten Their Constituencies?

It’s worth mentioning that many members of the House of Representatives rarely, if ever, visit their constituencies. Once elected, they disappear into the cocoon of Abuja’s luxuries, far removed from the realities of the citizens they claim to represent. The roads in their constituencies remain dilapidated, schools are in shambles, and healthcare centers are more like death traps. Yet, their priority remains national honours and titles that do nothing to alleviate the suffering of the Nigerian people.

While many of them wine and dine in the capital, living in opulence and privilege, the people back home are struggling to put food on the table. They struggle to survive in a nation that has failed them—while their representatives focus on the most superficial of matters.

A National Disgrace

It is a national disgrace that the House of Representatives would fight harder for a title than for the basic human rights of Nigerians. Where is the fight for better healthcare? Where is the fight for clean water, for accessible education, for job creation? Instead of tackling Nigeria’s rising debt crisis, instead of pushing for reforms in power generation, or addressing the rampant corruption that bleeds the nation dry, the House of Representatives is fixated on ensuring that their Speaker’s ego remains intact with a title that matches his Senate counterpart.

If only the same zeal was applied to drafting and passing laws that would lift Nigerians out of the mire of economic hardship. If only 360 signatures could be mustered to push forward a bill to reform the electoral process or strengthen anti-corruption laws. But alas, those issues don’t serve the self-interest of the representatives, and thus, they remain on the back burner, overshadowed by this petty fight for prestige.

The Real Honour Nigeria Needs

If the House of Representatives really wants to talk about honour, let’s talk about honouring the Nigerian people. Honour is ensuring that no Nigerian has to worry about basic amenities like food, water, healthcare, and security. Honour is representing the interests of your constituency, not your own. Honour is passing laws that serve the public good, not personal vanity.

If Speaker Tajudeen Abbas wants to wear the GCON title, he should first wear the title of servant of the people. If the House of Representatives wants respect, they should earn it by focusing on the real issues affecting Nigerians, not by clamouring for empty titles that mean nothing to the citizens struggling to survive.

The House of Representatives must realize that Nigerians aren’t interested in their titles. Nigerians are interested in results—in policies and laws that will improve their lives, not the egos of their politicians. Until the House realizes that, every move they make to elevate their own status only further alienates them from the people they were elected to serve. And if they don’t start addressing the real problems soon, they may find themselves with all the titles in the world but no legitimacy in the eyes of the people.
PoliticsRe: Senate Will Never Allow Private Investigators—the Skeletons Are Too Many by malali(op): 5:05am On Oct 03, 2024
In a country where transparency and accountability are nothing more than catchy buzzwords to sprinkle into speeches, the Nigerian Senate has done what they do best—protect themselves from being found out. The recent rejection of a bill aimed at licensing private investigators in Nigeria is not just another legislative mishap. No, this is a calculated move—a masterclass in self-preservation. Because, honestly, how could a Senate filled with politicians lugging around skeleton-filled cupboards ever allow the existence of private investigators? It would be akin to handing out magnifying glasses in a hall of mirrors, inviting everyone to see just how deep the rabbit hole of corruption goes.

Let’s not pretend here. The rejection of this bill has nothing to do with procedural flaws or concerns about professional conduct. The truth is simpler and far more insidious: the last thing Nigerian politicians want is anyone poking around their affairs, peeling back the layers of secrecy they’ve so carefully cultivated. Imagine private investigators sniffing around, unearthing inconvenient truths—illegal contracts, shady deals, hidden mansions in Dubai. If private investigators were allowed to practice freely in Nigeria, we’d need a whole new National Assembly. And let’s be clear, no senator wants to be replaced by someone who actually has nothing to hide.

The Senate’s Worst Nightmare: A Truth-Exposing Society

Private investigators—trained professionals with backgrounds in law enforcement and intelligence—are commonplace in countries like the United States, the United Kingdom, and Australia. Their role is straightforward: they find the truth. But in Nigeria, finding the truth is not just discouraged; it’s a downright threat to the status quo. After all, how can you expect a room full of lawmakers to support legislation that may one day have someone investigating them?

Let’s consider the bill’s contents for a moment. It proposed to establish standards for private investigators to tackle fraud detection, corporate fraud, risk management, and even the investigation of government negligence. In essence, it’s the kind of bill that would have the political elite quaking in their agbadas. Because we all know what happens when the truth comes to light—it gets messy. It gets dangerous. And, in Nigeria, the truth is the Senate’s worst nightmare.

How could they possibly allow private investigators to expose the false narratives that many of them have woven into their public personas? These same politicians who stand before the electorate with their well-rehearsed speeches about transparency, honesty, and patriotism are the ones ensuring that no one is ever in a position to call their bluff. Private investigators in Nigeria? It would be the end of this deceitful charade they’ve built over the years.

Honesty is Bad for Business—Political Business

Let’s not forget that politicians have made an art of projecting a holier-than-thou image. Many of these senators have perfected the craft of playing victim, posturing as selfless defenders of the people. They claim to be servants of the masses, only to enter office and endorse fiscal policies that threaten the extinction of the very Nigerians who voted them in. But private investigators would have none of that. They’d shine a light into the dark corners of political offices, illuminating the greed, hypocrisy, and endless web of lies.

Imagine this: A private investigator following the trail of missing funds from a public project—money that was supposed to build schools, fix roads, or fund hospitals. Imagine that investigator tracing those funds to a hidden offshore account, owned by a senator who passionately argued for “fiscal responsibility” just the week before. If private investigators existed in Nigeria, they’d rip apart the falsehoods our politicians feed us. And that, my friends, is bad for business—political business.

A Culture of Deception Thrives on Ignorance

For decades, Nigerian politicians have thrived on the ignorance of the people. Without access to the tools of accountability—like private investigators—citizens are left to trust the very people who consistently lie to them. But who needs accountability in a system designed to reward deceit? In Nigeria, politicians assume office with one foot already out the door, ready to fly off to foreign lands as soon as the going gets tough, or the economy (which they’ve mismanaged) comes crashing down. They leave the mess behind, confident that no one will be investigating their misdeeds, at least not legally.

Private investigators would strip away the anonymity that many senators enjoy. They would follow the money trail, expose the hidden assets, and reveal the truth about “honest” politicians who preach water and drink champagne. And that’s the crux of the issue: truth is dangerous in Nigeria. It threatens the very foundation upon which the current political class stands.

The Lies Must Continue

The rejection of the private investigator bill isn’t just a legislative hiccup. It’s a loud and clear message from the Senate: we don’t want to be found out. In their world, lies are not just a tool—they are the lifeblood of governance. And as long as those lies remain intact, politicians can continue to enact policies that serve their own interests while proclaiming to care for the people.

In a society where private investigators were free to operate, the political class would face an existential crisis. The façade of honesty, the pretend transparency, the public grandstanding—it would all come crashing down. And that’s exactly why they’ll never allow it.

As it stands, the only investigating that goes on in Nigeria is the kind that ends up with the investigator in trouble. Who will investigate the investigators, after all? Certainly not the Senate. So, the politicians will continue to preach accountability while ensuring that no one can ever hold them accountable. And the Nigerian people? They’ll continue to live in a country where the truth is always just out of reach, locked away in the chambers of a Senate that has too many skeletons to ever risk letting them out.

Because, in the end, how can you allow private investigators to roam free when you’re the one hiding all the secrets?
PoliticsSenate Will Never Allow Private Investigators—the Skeletons Are Too Many by malali(op): 5:05am On Oct 03, 2024
The upper chamber of the National Assembly, the Senate, has rejected a bill aimed at setting out the rules and conditions for operating and practicing private investigations in Nigeria.

The bill, introduced by Senator Osita Ngwu (PDP, Enugu West), was voted down by most members during the discussion in the Red Chamber.

In his opening remarks, Senator Ngwu, who serves as the Senate Minority Whip, explained that the bill’s main goals include establishing a structure for the licensing and regulation of private investigators, as well as setting standards for their professional conduct.

He mentioned that private investigation is a well-established field in countries such as the United Kingdom, the United States, Australia, and Canada.

Senator Ngwu pointed out that some private investigators have backgrounds in law enforcement, while others come from the military and intelligence sectors.

He also highlighted the growing global trend of requiring licenses for private investigators to uphold ethical standards.

“The objectives of the bill include fraud prevention, detection, assessment and resolution; corporate fraud and risk management services; insurance fraud and claims investigation; aviation accident and loss investigation; marine loss investigation; occupational health and safety incident investigation; and witness location and bail bond defaulters etc.

“The bill defines the scope of the profession; ensures standards; provides penalty for professional negligence; prescribes offences for operation without a license and encourages industry-based training to maintain capacity.

“The bill essentially seeks to professionalize the industry and has no financial implication,” Senator Ngwu noted.

However, during the debate on the bill, while the Senate Deputy Minority Leader, Senator Olalere Oyewumi, and Senator Victor Umeh supported the bill, others like senators Adams Oshiomhole, Iya Abbas, and Mustapha Saliu kicked against it, describing it as a recipe for a personal fight.

Having watched different arguments from his corner, the President of the Senate, Godswill Akpabio, called on the bill’s sponsor to withdraw it for further legislative inputs, which he hurriedly did.

https://www./2024/10/02/senate-rejects-bill-on-private-investigators-in-nigeria/

PoliticsTinubu To Depart Abuja To UK Today For 2 Weeks Annual Leave. by malali(op): 4:45am On Oct 03, 2024
In an unprecedented move that has left both Nigerian and American citizens in fits of confusion and bewilderment, the White House has just announced that U.S. President Joe Biden will be spending his two-week annual leave in none other than Nigeria. Yes, you heard that right. Joe Biden, leader of the free world, is coming to Naija for a much-needed break.

President Biden has chosen Nigeria as the ideal location for his annual leave. He looks forward to experiencing the country’s rich culture, hospitality, and, of course, its highly acclaimed infrastructure,” said his Press Secretary, Jen Psaki, with an impressively straight face.

The announcement has since sent shockwaves through diplomatic circles and social media, with reactions ranging from confusion to outright hilarity. How did Nigeria—a nation where its own president takes his vacations in London—become the top destination for the most powerful man in the world? No one knows. But let’s not get caught up in the details.

Tourism Minister Takes Notes: “Joe Biden has Set an Example”


It’s worth mentioning that Nigeria recently appointed a Minister of Tourism to, presumably, boost domestic tourism. However, it seems the memo may have gotten lost in President Tinubu’s inbox because rather than exploring the wonders of Yankari Game Reserve or lounging on the serene beaches of Lekki, the Nigerian president has developed a particular fondness for London. You know, that quiet, cozy British village where Nigerian presidents go to reflect.

Perhaps, after watching his Nigerian counterpart jet off to the UK for some “reflection” (and possibly a cup of Earl Grey), Biden felt inspired. “If the President of Nigeria prefers to rest in a foreign land, surely there’s something magical about Nigeria that we’re all missing,” Biden reportedly mused.

America Learns from the Masters of Escape

To be fair, African presidents have long perfected the art of running away—I mean, retreating—to foreign lands to rest their weary bones. Between Tinubu in London, Buhari’s famous medical tours of the UK, and Paul Biya’s mysterious disappearances, it seems the ultimate sign of good leadership in Africa is how quickly you can escape your own country’s hospitals, roads, and public services.

Not one to be outdone, Biden has decided to flip the script. He’s coming to Nigeria, to show the world how it’s done. His schedule reportedly includes a tour of Nigeria’s “efficient” airports, a drive through the “seamless” Lagos traffic, and some time in the “immaculate” hospitals—where, we hear, all diseases are cured by prayer.

Tourism in Nigeria: The Nigerian Presidents Missed Out

While President Tinubu is likely reclining in a plush London estate, sipping on imported tea, one has to wonder what tourism opportunities he’s missing back home. Maybe Biden knows something Tinubu doesn’t. After all, why would a president, especially one who appoints a Minister of Tourism, flee at every available chance? Maybe Nigeria’s breathtaking two-lane highways or its award-winning power grid are simply too overwhelming for the president to handle without taking a short break overseas.

Meanwhile, Nigerian citizens are left scratching their heads. How exactly is tourism supposed to flourish when the number one tourist in the country—the President—doesn’t even stick around long enough to sample local cuisine? Does Tinubu know something about Nigeria that the rest of us don’t? Does the air smell different in London? Do the sidewalks whisper sweet nothings? Or maybe, just maybe, there’s no NEPA in Buckingham Palace.

How to Escape Like a Pro

In all seriousness, Biden’s “leave” in Nigeria is a masterstroke of irony. Nigerian leaders, it seems, have unknowingly given the world a new template for how to govern: rule from afar. Set up your policies, make grand speeches, and then—right when it’s time to face the people—hop on a plane to Heathrow, JFK, or Pearson. Governance is clearly much more efficient when viewed through the lens of a first-class window seat.

By the time President Tinubu returns from his reflection-fueled sabbatical, Biden will probably have seen more of Nigeria than he has. Imagine Biden giving a speech in Washington about his time at Olumo Rock, while Tinubu is still trying to remember the last time he visited Jos. America may have 50 states, but Biden understands that true leaders need to expand their horizons—sometimes by visiting other people’s countries for vacation.

Jet, Set, Reflect


The real question now is: What lesson will we learn from this? If the President of the United States can consider Nigeria as a viable vacation spot, perhaps it’s time for our own leaders to reconsider their destination choices. London is getting crowded with all the Nigerian elites escaping there. Maybe—just maybe—it’s time to give Nigeria a try, if for no other reason than to remind themselves what the rest of us already know: We’re still here.

So, while Tinubu sips tea in a British garden and Biden shops for aso-ebi in Balogun market, let us all reflect on the state of Nigerian leadership. Because if foreign presidents are now picking Nigeria for their annual leave, maybe the joke’s on us after all.

PoliticsFG Advises Citizens In Lebanon To Return To Nigeria by malali(op): 4:24am On Oct 03, 2024
The Nigerian government has urged its citizens currently residing in Lebanon to return home, citing escalating violence in the region.

The Nigerians in Diaspora Commission (NiDCOM) issued the advisory in response to the ongoing conflict between Israel and Hezbollah, which has led to heightened tensions and attacks in parts of Lebanon.

In a statement, NiDCOM advised Nigerians to consider leaving the country while commercial flights remain operational, given the uncertain security situation.

“In light of the attacks on Hezbollah and other areas in Lebanon by the Israeli government, we are advising Nigerians in Lebanon to take the opportunity to exit the country now, as flights are still available,” said Abdur-Rahman Balogun, Director of Media, Public Relations, and Protocols Unit at NiDCOM.

Despite the instability, NiDCOM noted that information from the Nigerian community in Lebanon suggests that many Nigerians have already relocated from more volatile areas, particularly in the southern part of the country, and are currently in safer locations. “We have been informed that most Nigerians have moved to safer regions and are relatively secure, but we continue to urge them to remain vigilant until a ceasefire is in place,” Balogun added.

NiDCOM also reassured the public that no Nigerian nationals have been harmed in the conflict so far. “It is gratifying to note that no Nigerian has experienced any form of injury or accident during the ongoing violence. We advise them to remain cautious and continue prioritising their safety during this period,” the statement said.

The Nigerian government is closely monitoring the situation and has emphasised that the safety and well-being of its citizens remain a top priority for President Bola Ahmed Tinubu’s administration. Nigerians in Lebanon are advised to maintain contact with the Nigerian Embassy in Beirut for further guidance on security measures and evacuation options if needed.

NiDCOM’s statement comes as part of a broader effort to ensure the safety of Nigerians abroad amid growing geopolitical instability in the region.

Backstory
This advisory follows growing concerns over the deteriorating security landscape in Lebanon, exacerbated by the intensification of hostilities between Israel and Hezbollah. The conflict, rooted in decades of territorial and political disputes, has once again flared up, creating instability in Southern Lebanon and neighbouring regions. Hezbollah, a militant group based in Lebanon, has clashed with Israeli forces intermittently over the years, often drawing the country into broader Middle Eastern conflicts.

In recent weeks, the conflict has escalated, with rocket fire and airstrikes affecting civilian areas, prompting fears of a wider regional war. Lebanon, already grappling with a severe economic crisis and political instability, faces further strain as violence escalates. The situation has caused concern for the safety of foreign nationals, including the estimated thousands of Nigerians living and working in the country, many of whom are in vulnerable conditions due to Lebanon’s ongoing economic hardships.

https://nairametrics.com/2024/10/02/fg-advises-citizens-in-lebanon-to-return-to-nigeria/

Foreign AffairsBritain Is For Us "Not Just Who Is Going To Wipe Bottoms For Us Today". by malali(op): 12:47am On Oct 03, 2024
The derogatory language used by international leaders to describe developing nations is as telling as it is disgraceful. In recent years, the world has heard some of the most powerful voices in politics spew vile insults about nations like Nigeria. Who could forget former U.S. President Donald Trump’s infamous reference to African countries as “shitholes,” or Kemi Badenoch, the UK’s Minister of Trade and a woman raised on Nigerian soil, sneering at immigrants as “bottom wipers”? These remarks aren’t just offensive—they reveal a deep-seated arrogance from nations that view us as little more than economic refugees begging for scraps.

These comments aren’t isolated slip-ups but part of a larger narrative that dehumanizes Africans and reinforces the idea that the only value we can offer is our cheap labor. And, unfortunately, many of us are playing right into their hands by continuously fleeing our homeland in search of “greener pastures,” only to be met with condescension and disdain.

Let’s not mince words—Nigeria, like many other developing nations, has its problems. From rampant corruption to crumbling infrastructure, our challenges are many. But why should our story end with us running away? Why do we allow ourselves to be reduced to second-class citizens in countries that spit on our dignity? The truth is, we are fleeing because our own leaders have failed us miserably. They loot, they mismanage, and they insulate themselves from the real struggles of ordinary Nigerians. But the solution is not mass migration or idolizing the West; it is holding our own leaders accountable and fighting to build a Nigeria we can be proud of.

For too long, we have watched as elites and political thieves plunder our resources while the rest of us are left scrambling for opportunities abroad. But fleeing doesn’t solve the problem—it only weakens us further. The brain drain has hollowed out our potential, leaving us at the mercy of corrupt officials who have no incentive to reform because the most talented and capable among us are gone.

It’s time to demand real leadership, not the recycled politicians or out-of-touch elites who treat government office as their personal ATM. We need leaders who put Nigeria first—leaders who invest in our infrastructure, education, and health systems instead of stashing billions in foreign accounts.

The solution is not found in the West, where you are viewed as little more than an economic refugee to clean toilets or “wipe bottoms.” The solution is here, in Nigeria. It’s time to stop running. It’s time to fight.

Enough with the excuses. Enough with the mass exodus. The more we run, the more we weaken our nation. It’s time to stand our ground, demand accountability, and elect leaders who will build a Nigeria that no one can dare call a “shithole.”

PoliticsPetrol Import In Nigeria Drops By 3.58 Billion Litres After ‘Subsidy Removal’ by malali(op): 3:54pm On Oct 01, 2024
Nigeria has recorded a reduction in petrol importation following the ‘removal of fuel subsidy’ by President Bola Tinubu in May 2023.

According to the latest petroleum products distribution statistics report of the National Bureau of Statistics (NBS), petrol imports dropped by 3.58 billion litres in the second half of 2023 compared to the first half of the year.


The country imported 8.36 billion litres of Premium Motor Spirit (PMS) in H2 2023, a significant decrease from the 11.94 billion litres imported in H1 2023, marking a 29.99% reduction.

This downward trend is even more notable when compared to H2 2022. In the latter half of 2022, petrol imports stood at 11.98 billion litres, resulting in a 30.22% drop when compared to H2 2023, which is equivalent to a reduction of 3.62 billion litres.
Also, for the entire year of 2023, Nigeria imported 20.30 billion litres of Premium Motor Spirit (PMS), which is a decrease from the 23.54 billion litres imported in 2022. This reflects a reduction of approximately 13.77% year-on-year.
These figures highlight the profound impact of the subsidy removal on the volume of petrol imported into the country.

The announcement of the fuel subsidy removal was made on May 29, 2023, during President Tinubu’s inauguration speech. Shortly after, fuel prices soared across Nigeria, with some stations selling PMS at prices as high as N700 per litre .

What you should know
According to the 2023 full-year foreign trade data, Nigeria’s fuel import costs decreased by approximately 2.6%, from N7.7 trillion in 2022 to N7.5 trillion in 2023. In terms of semi-annual comparison, the country incurred N3.5 trillion in fuel importation costs in the second half of 2023, representing a 10.26% decrease compared to the N3.9 trillion recorded in the first half of the year.

Also, in the first six months of 2024, the country’s petrol import bill stood at N5.8 trillion. When compared to the same period of 2023, the country’s petrol import bill increased by 87.09% from N3.1 trillion. The significant increase in petrol imports can be attributed to high crude oil prices coupled with a weakened naira.

The Minister of Information, Idris Mohammed, earlier said that Nigeria’s domestic consumption dropped from 2 billion of petrol by 50% following the removal of fuel subsidy. Mohammed said that the decline in importation suggests that these imports are being redirected to destinations other than Nigeria.

The removal of the subsidy has not been without controversy. While the government insists that the move was essential to free up resources for critical sectors like healthcare, education, and infrastructure, economists argue that the removal disproportionately affects lower-income Nigerians. Many have expressed concerns about the sudden rise in living costs, exacerbated by higher fuel prices .

Also, there has been an ongoing debate over whether the subsidy was truly eliminated, as reports have surfaced suggesting that the Nigerian National Petroleum Company (NNPC) may still be incurring some costs related to fuel imports .

The controversy deepened when it was revealed that the NNPC had turned to the federal government for financial assistance to cover fuel import costs, even after the subsidy removal. This has raised questions about the transparency of the government’s subsidy policy and whether the removal is being fully implemented.
https://nairametrics.com/2024/10/01/petrol-import-in-nigeria-drops-by-3-58-billion-litres-after-subsidy-removal/

PoliticsRe: I Didn't Steal From Kaduna Treasury, I Am Ready To Swear By Quran - El-Rufai by malali: 3:32pm On Oct 01, 2024
Mallam this is not religious court.........hahahhahah

When you finish swearing by the Quran.

Present yourself for prosecution.

Swearing by Quran, Bible and Traditional shrines, is what got Nigeria in the mess that it is today.

There is state there is religion...These are 2 different entities.

Mallam you are fully answerable to the Nigerian state 100% after holding a public office.

You didnt get into the office by swearing with the Quran, you got in by the peoples votes. LMAO
PoliticsNigeria Set To Approve Exxon’s $1.3-billion Shallow Water Asset Sale by malali(op): 12:44pm On Oct 01, 2024
Nigeria’s government is set to approve within days the proposed $1.3-billion sale of ExxonMobil’s shallow water assets to local firm Seplat, Nigerian President Bola Tinubu said on Tuesday.

The U.S. supermajor announced two years ago its intention to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian energy company by market value, in a $1.3 billion deal.

The transaction has been stuck at the regulatory approval level for months and Exxon has yet to receive full clearance for the asset sale.

Earlier this year, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) approved the proposed sale of Nigerian Agip Oil Company Ltd (NAOC Ltd), Eni’s wholly-owned subsidiary focusing on onshore oil and gas exploration and production in Nigeria, as well as power generation, to Oando PLC. The regulator has also given the green light to Equinor to sell its Nigerian business to Project Odinmim.

But approval of the Exxon deal has been dragging on.

Now the Nigerian president said in a televised speech to mark Nigeria’s Independence Day that the final green light for the Exxon deal is expected within days.

“The ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator,” Tinubu said, as quoted by Reuters.


NUPRC has yet to announce its go-ahead to the asset sale.

Despite selling its shallow water business, Exxon is committing new investments in Nigeria’s deepwater.

ExxonMobil has proposed a $10 billion investment in Nigeria’s deepwater oil resource development, Stanley Nkwocha, spokesman and senior special assistant to the Nigerian President, said last week.

“We’re working closely with the President’s office and the Special Adviser to the President to secure favorable fiscal arrangements that will make this significant investment possible,” said Shane Harris, chairman and managing director of ExxonMobil affiliates in Nigeria, as quoted by the press release from the presidency.

“Our commitment to Nigeria remains unwavering. As we celebrate 70 years of oil production and 8 billion barrels produced, we're not retreating but refocusing our investments on deep-water opportunities,” Harris was further quoted as saying.

By Tsvetana Paraskova for Oilprice.com

PoliticsRe: Atiku Writes National Assembly, Seeks Six-year Term For President by malali: 12:20pm On Oct 01, 2024
etrouble:
Imagine this cursed Cameroonian bisexual talking about rotational Presidency when he fought tooth and nail to make sure it didn’t happen in PDP

You had sex with him ? Or was it your dad ?
Dont be annoyed ooohhhh
I am just curious how you knew.
Foreign AffairsRe: Iran's President Hails Long-term Natural Gas Deal With Russia by malali(op):
"Iran has the world’s second-largest natural gas reserves, after Russia"


Its only a matter of time before it gets to 'Nigeria'

Foreign AffairsIran's President Hails Long-term Natural Gas Deal With Russia by malali(op): 8:53am On Oct 01, 2024
The president of Iran Masoud Pezeshkian has hailed a long-term natural gas supply deal with Russia’s Gazprom that will help the country turn into a regional gas hub, bne Intellinews reports, citing a statement during a visit by Russia’s Prime Minister Mikhail Mishustin.

Gazprom and Iran’s National Iranian Gas Company signed a preliminary deal
in June for the supply of natural gas volumes to Iran. In July, Iran news agency Shana revealed the volumes in the deal, which were set at 300 million cu m daily or 109 billion cu m per year.

At the time, Iranian oil minister Javad Owji said the volumes would be supplied for both domestic consumption and for re-export to neighboring countries. The cost for the construction of the pipeline to carry this gas would be covered by the Russian side, Owji also said in July, as quoted by Interfax.

The contract between Gazprom and NIGC was “a masterpiece of energy diplomacy that could create the preconditions for an economic revolution and ensure energy security for the region with the help of Iran,” the Iranian official also said.

President Pezeshkian this week echoed the sentiment, saying “We believe that if the important joint projects of Iran and Russia are implemented, they will create significant capacities for both countries in offsetting cruel sanctions.”

Iran has the world’s second-largest natural gas reserves, after Russia, but has been constrained in its ability to develop these because of U.S. sanctions targeting its energy industry specifically. The gas imported from Russia will be sold on to Turkey, Pakistan, and Iraq.

One deal for re-export is already in the works, with Turkey’s state energy major Botas. The company said last week it was in talks with the National Iranian Gas Company on the long-term supply of gas. The current deal between the two, for an annual amount of 10 billion cu m of gas, is set to expire in two years.

By Charles Kennedy for Oilprice.com

PoliticsRe: Nigeria At 64: Tinubu Confers National Honours On Akpabio, Kekere-Ekun, Others by malali: 7:37am On Oct 01, 2024
Yahya Bello GCON
PoliticsTinubu Diverted Nigerians From Real Issues And Set Up A Circus Of Distractions. by malali(op): 12:12am On Oct 01, 2024
Welcome to the great Nigerian circus, where the spotlight isn’t on skyrocketing petrol prices, terrifying food inflation, or the crumbling healthcare system. No, our esteemed House of Representatives has discovered a far more pressing matter: a transgender squabble and a loquacious self-proclaimed activist. Yes, folks, in a country where millions wake up daily to the nightmare of survival, our lawmakers have decided that the most urgent issue is a saga fit for a reality show. Move over, Puff Daddy’s baby oil controversy; Nigeria has its own tragic comedy.

Let’s start by acknowledging the numerous disasters piling up at our nation’s doorstep as of September 30, 2024:

1. Fuel Prices Over N1,000 per Liter: The lifeblood of the economy, fuel, is now so expensive that people have resorted to rationing their trips to work, school, or even to fetch water. But do we hear the House discussing how to mitigate this national crisis? Nah. They’re too busy deliberating over a social media spat.
2. Exorbitant Food Prices: The average Nigerian can barely afford a bag of rice or even a loaf of bread, but our lawmakers seem to believe that food security is less important than sensationalized, tabloid-worthy drama.
3. Borno Flooding Disaster: A humanitarian crisis that has displaced thousands of people. Did anyone see an emergency sitting of the House to tackle this? Nope. Not a peep. Apparently, it’s not urgent enough. Maybe if the floods wore makeup and caused a social media stir, the House would care.
4. Rising Airfares: As if life wasn’t difficult enough, domestic flights have become luxuries, with prices soaring by as much as 400%. But our dear lawmakers won’t touch that because, of course, they’ve got private jets.
5. Quadrupled Rent Prices: People are being evicted from their homes because rent prices are skyrocketing. And yet, the House of Representatives is more interested in holding a midnight vigil over a fight involving a controversial personality. Is this a parliament or a TV drama set?
6. Insecurity: Farmers can’t go to their fields due to terrorism and banditry. The people who feed the nation are at the mercy of criminals. But why should our representatives care about that when they can be clutching their pearls over a celebrity tiff?
7. Dilapidated Healthcare: Hospitals in rural areas are more like morgues, and healthcare workers are fleeing the country. But the House hasn’t seen fit to convene an emergency session to fix this. Maybe we should paint the hospitals in glitter and neon to catch their attention.
8. Poor Literacy in the North: The education crisis in northern Nigeria is a ticking time bomb, with illiteracy rates soaring. But why bother with long-term developmental issues when you can spend your time chasing clout over a salacious internet argument?

The House of Representatives: A Bad Reality Show


How, you ask, does a country in such dire straits have the luxury of calling an emergency meeting over a fight between a transgender person and an activist? You might think this is satire, but it’s not. The Nigerian House of Representatives, tasked with solving issues that affect the entire nation, called a night-time emergency meeting about this circus of characters as though they were convening the UN Security Council over nuclear proliferation. Did anyone know we elected reality TV producers instead of lawmakers?

The burning question remains: How did this transgender spat get to the House of Representatives faster than the soaring fuel prices, the crisis in Borno, or the farmers displaced by terrorism? I’m not a genius, but the Ministry of Interior could solve this issue over breakfast—if they aren’t too busy themselves scrolling through social media, that is.

The Real Issues: The Problems They Ignore

It’s high time the Nigerian House of Representatives re-evaluated its priorities. Instead of playing the role of referees in inconsequential Twitter wars, they should be legislating on the real issues affecting Nigerians:

• Petrol prices over N1,000 per liter: While the rest of the world is concerned with energy sustainability and affordability, Nigeria’s citizens are left to fend for themselves, and our lawmakers are too busy to notice.
• Borno Floods: Entire communities have been submerged. Imagine, the humanitarian aid, the resettlement plans, the rescue missions that could have been discussed, but apparently, that’s less sexy than celebrity gossip.
• Rent Inflation: Housing in urban centers has become unaffordable. Landlords are squeezing life out of tenants, but the House hasn’t found this scandalous enough to care.
• Healthcare System: People are dying of preventable diseases in underfunded and understaffed hospitals, but no emergency meeting has been called to address this. Maybe if the hospitals had social media drama, our lawmakers would take action.

The Circus We Didn’t Ask For

It seems the Nigerian government, under the brilliant mismanagement of President Tinubu, is more interested in distractions and diversions than real governance. Our legislators are quick to assemble over petty squabbles, but the cries of the nation facing economic collapse, insecurity, and disaster are met with deafening silence. If this is what governance looks like, then we might as well turn the House of Representatives into a reality TV studio—at least then, we’ll know what we’re paying for.

After all, if the House of Representatives can turn a trivial personal spat into a national issue, then perhaps we should all be asking: Who’s really running the show?

PoliticsRe: “under Tinubu, We Have Remodeled DICON For Enhanced Capacity” — Matawalle by malali: 8:48am On Sep 27, 2024
Tinubu must immediately sack these ministers—they are utterly incompetent. The Minister of Defence is a prime example: while bandits and terrorists terrorize the country, he’s bragging about DICON, focusing on contracts and budgets instead of securing the nation. Farmers can’t even work in peace because local terrorists roam free, yet there’s no coherent strategy in sight. Compare him to Bunmi Ojo, the Minister of Interior, who has implemented real, tangible changes. This Defence Minister is a failure and needs to go—he’s out of touch and clueless.
PoliticsRe: Corruption Fights:NYC Mayor Got Served, EFCC Playing Hide-and-seek Yahaya Bello by malali(op): 5:55am On Sep 27, 2024
softtorce:
Exactly but we should not add criminals that stole with impunity like Peter Pandora Obi Bart Nnaji Allison Maduekwe Abaribe Ugwuayi Theodore Orji Kalu Orji Elechi Obiano etc

When one is born foolish such fools are destined to perish in foolish. Now count your teeth with thee tongue.
Its a civil discourse, you can state your points without condescension.
Only intellectually challenged people try to turn all different opinion into a confrontation.......lol
PoliticsExxon Proposes $10 Billion Investment In Nigeria’s Deepwater Oil by malali(op): 4:17am On Sep 27, 2024
U.S. supermajor ExxonMobil has proposed an investment of $10 billion in Nigeria’s deepwater oil resource development, Stanley Nkwocha, spokesman and senior special assistant to the Nigerian President, said in a statement on Thursday.

Nigeria’s Vice President Kashim Shettima “welcomed ExxonMobil's proposed $10 billion investment in Nigeria's deep-water oil operations, describing it as a clear testament to the administration's economic reforms and investment-friendly policies,” says the statement.

Shettima on Wednesday held a high-level meeting with ExxonMobil
executives on the sidelines of the ongoing 79th Session of the United Nations General Assembly in New York, the Nigerian presidency said.

Oil theft and pipeline vandalism have long plagued Nigeria’s upstream oil and gas industry, often resulting in force majeure at the key crude oil export terminals.

International majors have shrunk their exposure to Nigeria’s energy sector in recent years, with transparency in the licensing rounds one of the reasons for Big Oil to divest from their Nigerian assets, on top of oil theft and frequent pipeline damages.

ExxonMobil intends to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian energy company by market value, in a $1.3 billion deal, which has yet to be approved by the regulator.

Now ExxonMobil’s new strategy in Nigeria will focus on the Owo project, a substantial subsea tie-back that could represent a $10 billion investment, the presidential spokesman said today.

“We’re working closely with the President’s office and the Special Adviser to the President to secure favorable fiscal arrangements that will make this significant investment possible,” said Shane Harris, chairman and managing director of ExxonMobil affiliates in Nigeria, as quoted by the press release from the presidency.

“Our commitment to Nigeria remains unwavering. As we celebrate 70 years of oil production and 8 billion barrels produced, we're not retreating but refocusing our investments on deep-water opportunities,” Harris was further quoted as saying.


By Charles Kennedy for Oilprice.com

https://oilprice.com/Latest-Energy-News/World-News/Exxon-Proposes-10-Billion-Investment-in-Nigerias-Deepwater-Oil.html

PoliticsCorruption Fights:NYC Mayor Got Served, EFCC Playing Hide-and-seek Yahaya Bello by malali(op): 1:55am On Sep 27, 2024
Imagine this: the mayor of New York, the city that never sleeps, the man sitting in Gracie Mansion with the power and influence to shape one of the world’s most iconic cities, is woken up in the dead of night. His security detail—comprising the NYPD and federal agents—can do nothing as he’s handed legal papers. The feds have come knocking, not for a chat or an inquiry, but with charges of corruption. And just like that, despite his high office, the wheels of justice start turning.

Now, bring the story home to Nigeria. Think about Yahaya Bello, the former governor of Kogi State, an ordinary citizen without the high-profile office, yet for over 160 days and counting, he has successfully eluded arrest despite being declared wanted by the Economic and Financial Crimes Commission (EFCC). How is it that in the US, a powerful man like New York’s mayor can be served papers overnight in his mansion, while the EFCC continues to play a game of hide-and-seek with someone who isn’t even holding office?

Let’s break it down. The Tinubu administration came into power with promises to tackle corruption head-on. Nigerians were assured that the fight against corruption would be swift and decisive. Yet, one of the biggest tests of this promise has been Yahaya Bello—a former governor wanted by the EFCC. After 160 days of being declared wanted, the EFCC’s chairman, Olanipekun olukoyede, still hasn’t managed to lay hands on him.

New York’s Overnight Justice

In New York, a mayor with full security detail—a man guarded around the clock by the NYPD, the city’s finest—was served by federal agents with corruption charges. Imagine that happening in Nigeria. The same mayor, with access to powerful networks, couldn’t evade the law because in a functional system, no one is above the law. The system itself doesn’t respect titles or mansions; it respects justice.

Even though this mayor had federal protection and influence, when the law came knocking, there was no escape. He wasn’t tipped off, he wasn’t shielded. The system worked overnight. It worked swiftly. The mayor was not untouchable.

Nigeria’s Hide-and-Seek

Now let’s look at Nigeria. Bello is not the governor anymore. He’s not in charge of security. He doesn’t have sitting governor security agents protecting him. He is an ordinary citizen. Yet, 160 days after being declared wanted, the EFCC still can’t arrest him. They’ve come up with excuses. Some say Bello has powerful friends. Others say it’s the system that’s broken. But the facts are simple: despite being “wanted,” he remains at large.

What’s even more puzzling is that he’s not holed up in some remote cave in the countryside. He’s out there, possibly walking around Abuja, Lagos, or maybe even at an event. People see him. The EFCC knows he’s around, but nothing happens. It’s as if the anti-corruption agency is a cat without claws, while Bello plays the role of the mouse that knows the cat can’t pounce.

What’s the Real Difference?

The difference between New York and Nigeria is clear. It’s not about power. It’s not about influence. It’s about will. In the US, when the justice system moves, it doesn’t care if you are the mayor or a millionaire. You’ll get served if you’ve been found wanting. The system operates independently of politics or personal interests.

In Nigeria, however, the story is different. There’s too much dancing around powerful individuals. There’s too much “talk” and not enough action. The EFCC has been “on the hunt” for Yahaya Bello for over 160 days, yet nothing has happened. When the government says they are fighting corruption, we have to ask: where is the action?

Tinubu’s Administration: Fighting Corruption or Fighting Shadows?

President Bola Tinubu’s administration has promised to tackle corruption, but how can Nigerians believe that promise when a man declared wanted is still walking free after five months? It makes one wonder: is the fight against corruption real, or is it a well-rehearsed script meant for the international stage?

Nigerians deserve a system that works. A system where, just like in New York, no one is too big to be served legal papers, no matter the time of day or the office they hold. We need a system where corruption is confronted directly, not danced around.
If New York can serve its sitting mayor with corruption charges, what’s stopping the EFCC from arresting a former governor who has no such immunity? It’s time for Nigeria’s anti-corruption fight to grow some teeth. The people are watching, and they’re tired of the cat-and-mouse games.

PoliticsRe: FG Distances Itself From Controversy Between NNPCL and Dangote Refinery by malali: 4:16pm On Sep 26, 2024
Lithiumite:
I agree with you that the nomenclature in which the presidential spokesman coated such a sensitive issue is at best inappropriate.....however it's what it is,petrol pricing has been deregulated.

The language goes to show you the mindset of the president. Thats why the other spokesman resigned, the tall fair guy. Energy cannot be deregulated without proper guardrails and oversight. You cannot set minimum wage in low naira and sell petrol at dollar equivalents in naira.if you want Nigerians to buy petrol at same price with Americans,UK,Canadians....you have to be ready to pay the same minimum wages they pay in those countries.
PoliticsRe: Cabinet Reshuffle: Some Govt Agents Don’t Believe In Tinubu - Bwala by malali: 2:33pm On Sep 26, 2024
Most of them are failed politicians.
Or the ones that doesnt have what it takes to win an election.

They have no business being ministers.
PoliticsRe: Bello: EFCC's Contradictions, Allegations And Public Confusion (Photos) by malali: 2:32pm On Sep 26, 2024
BadBradley:
lame just like your red fonts for desperate attention craving

Oh,but you felt the need to spend out of your time on my post.
lol...I wonder who the attention seeker is....??
PoliticsRe: Bello: EFCC's Contradictions, Allegations And Public Confusion (Photos) by malali: 2:04pm On Sep 26, 2024
BadBradley:
did you read the article at all, Mr red fonts?

EFCC should explain why they are lying to Nigerians and talking from both sides of the mouth
Is that you ? Yahya Bello.
PoliticsRe: FG Distances Itself From Controversy Between NNPCL and Dangote Refinery by malali: 1:44pm On Sep 26, 2024
Lithiumite:
There is absolutely no point crying blue murder over this,the process as just started and govt would only rather act as a regulator and intervened only in extreme exigencies......petrol pricing as it is,is now on a willing buyer willing seller basis.... independent marketers have been given licences to import so as to create competition also other refineries are also available to sell at what ever price they dim fit.
While it’s true that the government aims to regulate and intervene only when necessary, the reality is that petrol pricing impacts everyone, especially the most vulnerable. A “willing buyer, willing seller” approach may work in theory, but without oversight, it can lead to price gouging and instability in essential services. Competition among independent marketers and refineries is important, but it needs to be balanced with consumer protection measures. The government’s role should include ensuring that no one is unfairly exploited and that essential goods remain accessible to all citizens, especially during crises.
PoliticsRe: FG Distances Itself From Controversy Between NNPCL and Dangote Refinery by malali: 1:22pm On Sep 26, 2024
Lithiumite:
Does the govt come out to tell you how much you must charge in your business.....does the govt come out to tell dangote how much he should sell his cement.

If dangote gives you a price that's to expensive,you are free to source from other places including importation if possible.....other refineries have been given licences since obj era and till now have not being able to drop a single liter of petrol and their fire argument is that govt needs to hands off petroleum pricing in the market albeit full deregulation.

Govt has already offered to sell crude to DRL and others in naira so as to reflect on the pricing of the refined product.
Petrol is too essential to leave entirely uncontrolled. Even in the US, UK, and Canada, the government plays a role in regulating fuel prices. In the USA, the government maintains strategic reserves to release when prices spike, helping stabilize the market. Allowing full deregulation without oversight would risk exploitation and inflation, especially in vital sectors like transportation. Fuel is not just another product; it’s a lifeline for the economy and daily life, so government intervention is necessary to protect consumers and ensure fair pricing.
PoliticsRe: Israel Revenge On Nigeria's Support For Palestinian State By Supporting Biafra by malali: 12:47pm On Sep 26, 2024
MadPolitician:
Nigeria makes these sort of statements from a general perspective. It always manages to find different ways to dodge the real commitments whenever an oppurtuinity for doing so emerges. And Isreal understands this. I mean, Isreali security companies are still very active as we talk in the Niger Delta. Nigerias rulers, irrespective of their religious inclinations, will always hire the isrealis to do sensitive security jobs for the country, including in Aso rock. Do you remember when Buhari hired an Isreali company to kidnap Umaru Dikko?

At the United nations, the Isreali/Palestine issue is somewhat close to the Taiwan vs China issue in diplomatic terms. Many countries deal with Taiwan, but the Chinese will let that slide for other diplomatic/political/economic reasons. The point is that the rulers of Nigeria understand where to draw the line. They seldom contribute to any financial pull to support violence against isreal, and "supporting violence against Isreal", is always the deal breaker for Isreal.

Nigerian government officials will make some general statements against Isreal, and then go back to normal relations with isreal. The only time that Nigeria tried seriously to take up a major anti isreal role in dealing with the isreal vs Palestine crises, was when General Sani Abacha invited Yasser Arafat to Abuja and promised him millions of dollars. He died the next morning! Peacefully in sleep too!!! Major Hamza Mustafa has been wailing on top of his voice that it was a handshake with one of Arafats men that killed Abacha, but Nigerians have been herded by the BBC and the VOA into believing that it was some Indian gals and some apples, that were responsible.
Hmmm, probably shook him with a poisoned ring, with a nerve agent. Slow death over 24-48 hrs
PoliticsRe: Bello: EFCC's Contradictions, Allegations And Public Confusion (Photos) by malali:
This is why no matter what the president does, once we do not remove the nonsense immunity on state governors. The looting is out of this world. As some think they will need money to run for further elections and some even want to run for president.

This cycle has to be broken....All these should be auctioned and used to subsidies fuel prices in Kogi state or to run farms and subsidize fertilizers or fix schools for Kogi people.

Foreign AffairsRe: Israel On Elimination Rampage by malali: 11:52am On Sep 26, 2024
They had their radio communication pagers, walkies talkie, cell phone.
In the 21st Century you can target a bomb to aim for these things precisely.

Its science, nothing to do with God.
Foreign AffairsRe: Saudi Arabia Scraps $100 Oil Price Target To Boost Market Share by malali(op): 11:15am On Sep 26, 2024
What’s Happening with Saudi Arabia’s Oil Policy?

1. Market Share vs. Price Stability: Saudi Arabia, the world’s largest oil producer, is changing its approach. Instead of aiming for high oil prices (like $100 per barrel), they are now willing to accept lower prices temporarily to regain market share. This means they want to sell more oil, even if it means prices drop.
2. OPEC+ Cuts: For over a year, Saudi Arabia and its OPEC+ allies (which include other oil-producing countries) have been limiting oil production to keep prices higher. They were initially planning to slowly increase production from October but have now postponed that until December 2024 due to falling oil prices.
3. Bearish Market Sentiment: There’s a lot of uncertainty in the oil market right now, especially with concerns about weak demand from major economies like China. Many traders have become pessimistic, leading to a significant shift in how they are investing in oil futures.

Implications for Oil-Dependent Countries Like Nigeria:

1. Lower Oil Prices: If Saudi Arabia increases oil production and prices drop further, it could mean less revenue for Nigeria, which relies heavily on oil exports for its economy. Nigeria’s budget and foreign exchange earnings are closely tied to oil prices.
2. Economic Challenges: Lower oil revenues can lead to budget deficits, making it harder for the government to fund public services, infrastructure projects, and social programs. This could exacerbate existing economic issues in Nigeria.
3. Currency Devaluation: A decline in oil prices could lead to a weaker Nigerian naira, as the country earns less foreign currency from oil sales. This could increase the cost of imports, leading to higher inflation.
4. Investment Uncertainty: With fluctuating oil prices, investors may be hesitant to invest in Nigeria’s oil sector, fearing that lower prices will affect profitability. This could slow down the growth of the oil industry and related sectors.
5. Policy Adjustments: The Nigerian government may need to adjust its economic policies to cope with lower oil prices, which could include diversifying the economy, increasing non-oil revenues, and implementing austerity measures.


In summary, Saudi Arabia’s shift in oil policy could lead to lower global oil prices, which may pose significant economic challenges for Nigeria and other oil-dependent countries. The government will need to be proactive in managing these changes to mitigate potential negative impacts on the economy.

Malali
Foreign AffairsSaudi Arabia Scraps $100 Oil Price Target To Boost Market Share by malali(op): 11:15am On Sep 26, 2024
Saudi Arabia is willing to endure short-term oil price and revenue pain as it is making a U-turn in policy and going to take back market share and ditching its unofficial $100 oil price target, the Financial Times reported on Thursday, quoting sources with knowledge of the latest Saudi thinking.

The world’s top crude exporter and leader of OPEC, Saudi Arabia, and its allies in the OPEC+ group have been withholding oil supply for over a year, in a bid to balance the market and prop up prices.

The OPEC+ alliance initially planned to begin unwinding part of the production cuts from October this year. However, after oil prices crashed in late August and early September, OPEC+ delayed the beginning of the unwinding of 2.2 million barrels per day (bpd) of cuts by two months until December 2024.

The decision did little to lift oil prices—the market was half expecting a delay, especially after OPEC cut in August its global oil demand growth view citing weakness in China.


In its monthly report for September, OPEC further trimmed its demand growth outlook and further weighed on oil prices and market sentiment.

In just two months, demand worries have flipped the bullish view of traders and speculators to the most bearish positioning in petroleum futures in recorded history since 2011.

Despite the weak market sentiment and uncertainty about whether the massive Chinese stimulus from earlier this week would boost China’s oil demand, Saudi Arabia is determined to begin unwinding the cuts as of December 1, according to FT’s sources.

This latest thinking suggests that the Kingdom has come to accept that it would have to endure a period of lower oil prices if it wants to take market share back.


For more than a year, Saudi Arabia has been pumping about 9 million barrels per day (bpd) of crude and has been strictly sticking to this target. But it has cost it market share not only from non-OPEC+ producers but also from such within OPEC and the OPEC+ group.

Following FT’s report that the Saudis are determined to bring back production in December regardless of market balances and prices, oil reversed earlier gains on Thursday and crashed by over 3% in early European trade.

By Tsvetana Paraskova for Oilprice.com

https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Scraps-100-Oil-Price-Target-to-Boost-Market-Share.html
TravelRe: JAPA: Nigerian Man Returns Back To Nigeria With His Family To Start Afresh (vid) by malali: 9:05am On Sep 26, 2024
If you are smart abroad, live low for 10 years.

INVEST INVEST INVEST.

You can be back in Nigeria living off your dividends and living a better life.


But the no so bright JAPA people
just pay bills, mortgage and taxes.
Thats like fetching water with a basket.

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