₦airaland Forum

Nigeria's oil reserves are depleting rapidly, most reserved are being produced are new ones are not being found. Exploration is ongoing and what we find in abundance are gas reserves, at this rate Nigeria is not an oil rich nation but gas rich nation. I hope we can take advantage of the abundant gas at least in power generation in the nearest future.

9jerian my con3. Issok. We move waiting 4 God send one day

hnnnnn

Everyone knows that this oil in Nigeria is a curse

With the level of laziness petrodollars have caused, Nigeria will be a disaster when it stops coming. Nobody wants to think these days... everyone is waiting for oil money.

backbencher:
Very true.

Dutch disease or resource curse.

But the problem is, manufacturing isn't popular in Nigeria for some reason. We all want to import and sell the imports.

Is manufacturing profitable??

Literally every country on the planet has trillions upon trillions of resources. It’s about countries that actually use them or sell them that causes such conflicts, besides oil is a dying sector of the Nigeria’s economy since the government has been raising funding for more infrastructure year after year allowing businesses to grow

chloride6:
Is manufacturing profitable??

Yes it’s over a quarter of the economy, we produce a lot of industrial goods like steel, fertilizers, concrete and tools to the point where sea craft is our second largest revenue producing asset

Rydermaverick:
The main thing now is insecurity..pls human live is more important than oil..if Dem like make Dem die ontop the oil matter..
People dey die daily from insecurity..

It’s true that insecurity is the main thing now but many people don’t know that its corruption that brings about insecurity. If you want to put a stop to insecurity in Nigeria then you must be ready to face corruption head on with no quarters. Corruption put wealth and power into the hands of very very bad people.

I'm so angry at Nigeria.. I visited Ghana on tour for 13 days and I didn't see or heard the sound of generator set. Gush.
Quite peaceful. I visited some places outside the capital. For such a poor country to have stable electricity and Nigeria has not, Nigeria is a disgrace for her riches. Thunder fire Nigeria.

Fo*lish country that has vowed to be fo*lish because of yeye unity.

Osgilliat:
It’s true that insecurity is the main thing now but many people don’t know that its corruption that brings about insecurity. If you want to put a stop to insecurity in Nigeria then you must be ready to face corruption head on with no quarters. Corruption put wealth and power into the hands of very very bad people.

You are right man..

Ok

Namnam:
Yes it’s over a quarter of the economy, we produce a lot of industrial goods like steel, fertilizers, concrete and tools to the point where sea craft is our second largest revenue producing asset

I know you are joking but I'll not engage you..

Manufacturing in Nigeria is profitable?

Depends on one's point of view. Oil has been a humongous blessing for our colonial master and the Naija looters stashing the proceeds in colonial hiding places all these decades.

.

Omicron007:



Nigeria discovered oil before Dubai, UAE.

Lemme not say anything further...

Except that Dubai have a population of 800k and Saudi 30m. Nigeria is 200m and counting. GDP per capita will crash with such numbers. That doesn't mean you point is invalid.

Whoever can fill up this order can reachout to me.

Unlimited Supplies of Soybeans are needed.


Paddy Rice also needed.




Reachout to me

09039034125

chloride6:
I know you are joking but I'll not engage you..

Manufacturing in Nigeria is profitable?

Yes
Why do you think the government buys so much machinery and factory equipment from China and the west?

Incompetence and kwarruption are the order of the day in this part of the world �
.
.
Anyway guys, Learn the Law of Financial Increase here!

*For every Financial Resource God gives you, there is Bread and there is Seed.

*Eat your Bread, but Grow your Seed.

*Don't eat your Bread and Seed together.

*Practice Savings.

Click the link in my Signature to learn more.

Incompetence and kwarruption are the order of the day in this part of the world �
.

Anyways guys, Learn the Law of Financial Increase here!

*For every Financial Resource God gives you, there is Bread and there is Seed.

*Eat your Bread, but Grow your Seed.

*Don't eat your Bread and Seed together.

*Practice Savings.

Click the link in my Signature to learn more.

GodHatesBigots:
https://www.theguardian.com/global-development/2021/nov/09/a-wealth-of-sorrow-why-nigerias-abundant-oil-reserves-are-really-a-curse

Mohammad please send this to your brother and name sake who is the most corrupt President on earth right now. He needs to hear this in Fulfude so he can understand better

GodHatesBigots:
https://www.theguardian.com/global-development/2021/nov/09/a-wealth-of-sorrow-why-nigerias-abundant-oil-reserves-are-really-a-curse

rubbish. Our problem na overpopulation. Since 1921 to now, our population dey double every decade while fight for space and resources dey quadruple every decade. We go dey alright las las wen water don get hin level. No allow anyone stay abroad dey write nonsense diagnosis. If we correct our population and knack am with patriotism, Naija don make am be dat

chloride6:
Is manufacturing profitable??

It does work for the Chinese, Japanese, Germans, etc , etc.

Seriously, we can't rely on oil and cocoa and groundnuts and palm oil. We don't control their price; the price of oil is set in London and New York, not in Nigeria, and OPEC is not the juggernaut it used to be...plus 2/3rds of the world's oil is produced outside OPEC ...AND More and more countries are discovering oil...meaning a price reduction due to a glut. And we haven't even mentioned green tech...

And because we don't set the price, it is never at a level we can control.

The curse no be small I swear.

Princedapace:
I'm so angry at Nigeria.. I visited Ghana on tour for 13 days and I didn't see or heard the sound of generator set. Gush.
Quite peaceful. I visited some places outside the capital. For such a poor country to have stable electricity and Nigeria has not, Nigeria is a disgrace for her riches. Thunder fire Nigeria.

Fo*lish country that has vowed to be fo*lish because of yeye unity.

What do u mean such a poor country? Ur country Nigeria is poverty capital of the world. Lagos alone has more poor people than the whole of Ghana. Correct ur statement.

HarryDuce:
Nigeria has never been "prosperous", "on the right path" or "organised" in her life time. When talking about oil curse, note that without the oil, things would've taken a sinister path instead. Crude oil has been more of a blessing than a curse regardless of the present situation of things.

Nigeria is also not petrol dollar "rich". Compare the population of countries feeding off crude oil to that of Nigeria and you'll notice that crude oil has been our life line for a little over 50 years. The question is what has the hardworking North, West and East been doing all these years?

List of countries by Revenue from crude oil below

The population of people where Nigeria's oil is located is not more than 30 million but when you add the population of north, SW , middlebelt , some SE states then the revenue that was originally meant for at most 40 million people is now shared with over 180 million people then there will be issues.

The oil is definitely accursed. Don't know about the gold though!

That article is blaming the wrong thing.
If Aguiyi Ironsi did not start the process of destroying the regions and implementing the current unitary system of government we currently practice, oil would have been a big bonus to the Nigerian economy.

You might ask how?

You see if the regions were left alone by the military, things would have been far better than they are today. Oil would have been a regional resource, that is oil would have been one of the resources of the then eastern region where the oil wells are located, which also had oil palm and other resources. The western region would have continued with cocoa, the northern region would have continued with its groundnut.

The mad dash for oil under the regional system of government would not have happened. Because each region had to generate its own revenue. The western region would not be able to lay claim to the oil in the eastern region, so in other words the western region would focus on improving themselves and their resources, so too the northern region.

But in this unitary system of government which are currently practising, it was a free for all. Why stress yourself in the farm when you can become a billionaire from oil?

That is why we need to restructure Nigeria, We need to practice true federalism!!!

We can't really say is a course, because God blessing is never a course. You know the truth, if you read how a cheating man jump from the upstair as he was caught grinding people wife
https://jovinletter.com/2021/11/09/man-caught-cheating-jump-down-from-storey-building/

I don't think it's fair to say Oil is a curse for Nigeria, it's people like you and I that manipulate the system coupled with weak government agencies and parastatals for their own gains.. we have many Nigerians that are 'stinkingly' wealthy from proceeds of Oil theft and money laundering, some of them are into airline operations, some private universities, some clubs and hospitality business, so many like that.

The most painful one is NNPC.. mismanagement, nepotism, corruption everything is just wrong with the corporation. Losses in trillions of naira with no gains and you expect foreigners to take the country serious?

It's just sad that Nigeria could not utilize the Oil to move her economy forward and increase standard of living of citizens. I mean some Oil-rich countries give stipends to their citizens while some give free gasoline at pump stations. Qatar there has gas just like Nigeria but of what use is the gas to us in Nigeria?

Look at China that was in penury when Nigeria discovered Oil, same China is now a world power where virtually everything electronics is produced , including electronics for use in US and UK. Now Nigeria begs China for loans with no visible means of repayment. This country matter dey shame me.

We can't really say is a course, because God blessing is never a course. You can also read how a cheating man jump from the upstair as he was caught grinding people wife
https://jovinletter.com/2021/11/09/man-caught-cheating-jump-down-from-storey-building/

ivolt:
Another article that explains nothing.
It regurgitates ignorant explanations that have little to do with reality.

....Or maybe you're as thick as a two inch plank.