Penny wise pound foolish.

ErasmusCOMP:


nawa for this your sense of humour.

My brother wetin we wan talk again, the guys seem to be so fascinated with their toys that they detonate with reckless abandon.

superstar1:
The question that keeps coming to my mind is why are they trooping to Europe, instead of going to Qatar, UAE, Bahrain, Saudi, Kuwait etc.

Accepting those barbaric Arabs will be Europe's undoing and the cataclysmic downfall of Europe.

You think their brothers will allow them, belligerent people who destroyed their own homes to be allowed into your home?

The Europeans are bringing in ant infested firewoods and still have some time to do a correction before lizard take over the compound.

This government and her appointees have never entered action with boldness, rather they have been jumping at diagonally opposite ends of their policy triangle.

Reduced rates , isn't working? Okay then increase it.
Sell FX to BDC's, isn't working? Okay then stop sales to BDC's
Stop FX deposits into dorm. accts, isn't working? Okay then allow customers deposit into their dorm accts...

These people need to sit down, brainstorm, do simulations, arrive at a set of possible scenarios, select best combinations of parameters from the generation of solutions that promise an optimal solution then implement this "optimal" solution for an extended period of time and not this "staccato-like" shifting system they are practising.

Companies are planning already with lower for longer oil prices, countries are planning as well in that direction, but the world's most populous black nation is planning up till December 2016, with hopes and prayers that oil prices wil rise.

Oil price isn't rising anytime soon Mr CBN governor. This isn't a church or faith matter, this is reality.

Some people just make hyperbolic statements, how can any one compare these paintings to the Mona Lisa. Until you understand that there is so much to the Mona Lisa then just a painting, you may continue to make such comparisons.
Some artworks are very left on their own, mona Lisa, Melencholia etc

Change!!!!@

wadetaw202:


Since your country is an Islamic country, where do you think we would belong to?

We had a principle of non interference until relatively recently. Me thinks we have more pressing concerns than to take on the problems of the global community.

daretodiffer:


Do you know that 'terrorist' attacks like this started with your masters, the sons of Israel? (It has not been confirmed nor denied)

Regardless, use your brain. God gave it to you for a reason.

There goes an apologist.

anonymous6:


The world has turned for the worse at least when it comes to safety, the world has changed from the times decades ago where terrorism at least in some parts of the world was either rare or didn't exist. This sadly doesn't surprise me, how about 9/11, attacks in Spain, Canada, London, Boston, San Bernadino, and recently this year Paris, our world has changed

A big pity, my thoughts and prayers are with the victims and their families.

http://www.express.co.uk/news/world/654540/BREAKING-Explosion-at-Metro-station-in-Brussels-follows-airport-drama

This is madness currently on going in Brussels.

LordAdam:
Not really bothered about the attacks. There are too many behind-the-scenes hullabaloo that makes commenting on terrorism in the West a difficult endeavor for me.

However, my major concern is the EU migrant crisis. I salute countries like Slovenia that have said their lands are not meant to host illegal Muslim occupants, refugees or not. Let Germany, France and the other pro-refugee countries be held responsible the increase in spate of attacks. Thank heavens the attacks are majored in pro-refugee EU countries. Remain UK.

The universe will pay them in equal measure for turning Libya and Egypt into Hades.

-Lord

There is already a terror alert for london. May God help us all and our loved ones

bonechamberlain:
Isis is a creation of the cia. their ultimate goal is to gather a lot of countries on their side, in the name of fighting Isis, but they are preparing for a real war, with those opposing the west. how do u join the coalition? some countries who aren't interested in joining, would experience some terrorist attacks, which in turn would make them eager to join a deceitful coalition to fight the so called Isis.

And where are we as a country? Eastern (Islamic) coalition? Or where western coalition? Or middle ground.

Gunmen also attack an EU mission in Mali.

http://mobile.reuters.com/article/idUSKCN0WN234

Seems like an attack well calculated and orchestrated.

bonechamberlain:
that's the work with of some evil powers to make Belgium join their evil coalition against the so called isis.

Belgium has been in the news lately for the wrong reasons, Brussels has been a peaceful city and hq of the EU now it's coming under attacks, I see some unfavourable policies against these immigrants in the coming days.

Two explosions have been reported in the departures area of Zaventem airport in Brussels.
The Belgian fire service told local media there were at least several dead and wounded.
The cause of the explosions is unknown. The airport is being evacuated and has been closed to flights.
The blasts come four days after the capture in Brussels of Salah Abdeslam, the main suspect in the Paris attacks in November.
Images on social media showed smoke rising from one of the buildings, amid reports of panic as people fled the airport.
Rail transport to the facility has been halted and people have been told not to come to the airport.
Other reports say at least one of the explosions was close to the American Airlines check-in area but this has not been confirmed.
The Belgian broadcaster RTBF quoted a witness as saying there were people injured or unconscious in the departure area, opposite the Sheraton hotel.
Niels Caignau, a Swissport employee, told Flemish broadcaster VRT: "I was on a break and heard and felt a big explosion - we have from here a view over the departure hall and saw a plume of smoke come out.
"The windows are completely shattered. People went outside in shock. It doesn't look good."

The departures hall at Zaventem following the blasts
The whole metro system has been closed
http://www.bbc.com/news/world-europe-35869254

I wonder what the world has turned into, no one and no place is safe, since some sons of Ishmael learnt to use fireworks, it seems they have become too fascinated with it to the detriment of everyone else.

The same economy you destroyed with your callous approach of running the world's 22nd largest economy as a sole administrator assisted by a photographer and 2 media assistants. You acted as though you were master of time and the rest of the world was waiting for you but sadly we live in a world where decisions are made on a minute by minute basis based on information received on a minute by minute basis too.Now we are suffering from the effects of 5 months of ruling without a cabinet and an absence of policies to drive the economy and you want to complain.
You can't eat your cake and have it, my teachers used to say "A stitch in time saves 9" and you seemed set upon proving that false.

How low can a person sink ?

Please OP this is an attempt to defend the indefensible, take a look at yourself in the mirror , please let go of the spell from that Aisha's rice, at least for the sake of the man in the mirror.

Outdated photograph

I am confused at some of the comments on this thread.

Guys please speak in plain English so that some of us will understand, @orlandoowoh, @obailala

And he is doing an "excellent" job at that.

And a certain governor is trying to create 31 new local governments councils, from the said 6m.
Talk about refrigeration governance. Smh

DelGardo:


Did you even notice the period covered by the AuGF's claim?

Anyways this statement us too empty; it did not provide any counter numbers of amounts remitted within the period in question or explanations for non remittance.

Still pitching my tent with the AuGF for now.

Yea i did. Are you claiming that the NNPC CFO makes statements without the knowledge of the GMD?

seunmsg:
Meaningless response from NNPC. We want to see concrete fact that you remitted the said N3.2trilliin not this empty statement that is hyping what the new management is doing.

And who is the GMD of this NNPC, plus who is the chairman of this NNPC releasing the said empty statements?

Is it the same NNPC headed by GMB's Kachikwu, who serves as junior Minister to one Muhammadu Buhari? Seems this government is both the proposing and opposing side on this debate.

"Propaganda no good oh", Dear God i don't seem to understand how this government of "Babel" came upon us.

sevule:


I beg to disagree sir. Even in the USA, Obama had to use a presidential veto in order to bypass the Senate when they refused to pass certain bills that he presented to them. There is ABSOLUTELY nothing wrong with this and it is pretty similar to what Buhari has done. He has used the powers given to him by the NNPC act to restructure the NNPC without recourse to our USELESS NATIONAL ASSEMBLY.

What he actually did is LEGAL but its only the Supreme Court that can arbitrate on the legality of his actions

Well on the FrontPage, the people in question have come out to deny any unbundling.Well the coming days will tell.

sevule:


My brother if 'legal channels' are followed, our dear National Assembly would still be talking about restructuring NNPC by 2020 when Buhari's tenure is about to end. They have delayed PIB for 10 years so what is another 4 years?
Buhari did the ONLY thing he could do and that is bypassing our USELESS NATIONAL ASSEMBLY.

In the words of Alfred N. Whitehead, the art of progress is preserving order amid change and change amid order. The law is what holds every aspect of our society together, an executive should be able to lobby the legislature to get what they want, especially with APC's Majority of both houses. Using any means other than "legal" would be an invitation to anarchy.

jaybee3:
^^^^
Traders and hedge fund fleeing bearish bets suggests they are pricing a probable supply cut into their forecast

A supply cut albeit expected has some sort of direct relationship with Buhari's lobbying, No?

Traders place bets in anticipation for an action and the simple explanation for oil price movement Demand vs Supply.

Yeah but the issue is about clearing the glut, when the market has been oversupplied by about 2million bblsperday consistently for 18 months, will take a while to clear up, the exact reason why the IEA and UAE's ministers are saying, balancing should occur but probably by the end of the year.

The meeting by 17 countries on March 20 in Moscow will only be about freezing production at current levels and not about cutting supply, and let us pray they come up with a good proposition for Iran, else the meeting will fall apart.
In truth it all not be fair to ask an Iran just coming out of sanctions to freeze production when they are still at sub optimal levels.

coolscott:

PassingShot omenka NavierStokes1 flyingdragon
[size=13pt]What do you think is the relationship between the president's visit to the middle east and the rise in oil prices?
Let me tell you that many have known that oil prices would rise again and it is all down to the Saudis' stubborn refusal to approve a cut in production by OPEC countries.

That same stubborn decision was what helped the prices go down but was predicted by them to still get the prices up later and international powers (and the biting low prices) could not convince them otherwise, much less Buhari.


The entry of American Shale oil into the market caused a glut in the market. Shale oil is more expensive to produce and as producers of other types of cheaper-to-produce crude find it harder and harder to make a profit at low prices, what do you think would be happening to shale oil producers? They would be forced to stop/reduce production as they would have forced prices too low for them to make any profits.

It should be noted that they also suffer from the effects of the low prices but chose to endure this suffering along with everyone else for the materialisation of their plan.

This has been the Saudis' (and OPEC's) position since the beginning of the drop last year.


Since the total amount of oil produced monthly has not reduced,
we can confidently say that whatever you think Buhari did in the middle east to affect oil prices is more imagined than real.[/size]

Looking at the market, there is something called a "fear index", the current rally in prices has been due to several contributory factors,
1) is the production freeze for January by the 4 countries, Qatar, Saudi, Russia and Venezuela.
2) some reduced supply especially in Nigeria where 300000bpd has been shut in until april at the shell Forcados terminal.
3) the news of a possible producers meeting on March 20th in Russia.

Now looking at the rally in prices as I stated on passingshot's thread, there are no fundamentals at the moment to back this rise in prices, as the oversupply in the market still approaches 2 million bbls per day, and the storage at WTI's pricing pointin Cushing Oklahoma is already at 91% capacity plus eastern storage at over 80% capacity, together averaging over 88%. At the moment most traders are fleeing bearish bets and taking bullish positions because of "fear" which we are seeing as a rise in prices, clearly not the doing of Mr. President.
(The amount of oil in storage at Cushing is what drives oil prices especially when over 80%).
So I had stated that we shall see a rise in price but it's obviously not the anticipated recovery. Because after the meeting when everyone understands that the production freeze is Saudi Arabia and Kuwaits means of playing the good guy and passing blame to Iran (they have stayed that they will freeze production of Iran does same) then the traders will change their stance.

By the way do you realize that Saudi and Russia do not even have the capacity to increase production much more than they are already doing? The USA and Iraq have actually been the ones that added significant barrels since 2014.

In summary as regards the global Oil Market, Nigeria is a "price taker" rather than "price maker" and so Buhari's travels has nothing to do with the current rally we are seeing. If we could alter prices we could have done that a long time ago rather than now.

PS I will take a moment after now to check for a relationship between when forcados was closed and when Kachikwu made his declaration.

Edited: Kachikwu made this declaration after it's been established that Forcados will be shut in for an extended period of time. Almost like Nigeria is doing a Production Cut

Eruditor:


Nairalanders! Take note of double-sided men who speak from both sides of their mouths.

They don't need the national assembly as the names, operations and even workforce of the NNPC didn't change. All that changed was the motive and to some degree corporate structure. The National Assembly should be more interested in submitting themselves to the TSA and opening up their books for Nigerians to see not in chasing shadows.

The events of the coming days will speak for themselves. Have a great day.

rusher14:


If Kachickwu with a PhD in Law and extensive knowledge and experience of the industry makes a decision in his area of expertise, I suggest we al should wait before crying blue murder.

Alright let's watch as events unfold.

And this is only the unions aspect of the fight, the NASS showdown is yet to begin, on this issue.

Intransigence will be the undoing of this government. I was fully in support of this move but legal channels need to be followed to do the right things, had even thought with Kachukwu's assertion of them breaking the PIB into smaller chunks, they had addressed this unbundling issue at the NASS on a low key. If they haven't done the right thing then they should go back to the drawing board, invite all stakeholders, take into consideration their inputs and ensure that the process is transparent and in line with the law.

modath:


Are you sure 70% of the demand isn't geared towards round tripping purposes?

I honestly feel it's more than 70%. By the way who would not want to make an instant 100ngn on each dollar. The gains greatly exceeds that from doing legitimate business.