₦airaland Forum

I remembered during Obama's reelection campaign, whenever Oil add a Cent or two - Republicans will be criticizing him that he is not doing enough to reduce the volume of Money Americans spend at Filling Stations.

During the Jonathan's Subsidy removal programme, Nigerians protested the resulting effects of increasing Fuel pump-price. It moved from N65 to N97 - As expected everything else adjusted upwards and till date nothing went back to it original cost.

The wind of Decreasing Price of Oil globally is blowing humanity differently. While in some places, citizens will rejoice that it will positively impact them, ours seems to have mix feelings.

So my question is, if Oil price per barrel is reducing, shouldn't that be a good news? If it is current not, does it imply that increasing benefit us? Am interested in this issue at Citizens Level.

The poor should be getting ready to eat the poor or the rich any of the above no problem sha.

.

.i love nija

If oil prices drop - increase in inflation.(weaker naira)
If oil prices rise - increase in inflation (higher transport costs)

Therefore whether prices rise or fall - Nigeria is Fc*"ked!

slimfit1:
The poor should be getting ready to eat the poor or the rich any of the above no problem sha.

A young lady "prophesied" that in January, 2012.

https://businessnews.com.ng/wp-content/uploads/2012/01/Nigeria-Fuel-Subsidy-Removal-Tough-Days.png

egift:
A young lady "prophesied" that in January, 2012.

https://businessnews.com.ng/wp-content/uploads/2012/01/Nigeria-Fuel-Subsidy-Removal-Tough-Days.png

Make the rich no say anywhere they run go we ma dey go. Abi no be poor people go be driver and cleaner yes. Make them continue they destroy am now.

OPEC wants oil to go as low as $40 / barrel, Canada , US can not Frack, use Tar sands and continue to flood the market with oil. OPEC will hurt the N American oil industry by pricing them out of the market. $60.00 oil works for OPEC. Not for the US new methods of deep well drilling fracking etc..

atlwireles:
OPEC wants oil to go as low as $40 / barrel, Canada , US can not Frack, use Tar sands and continue to flood the market with oil. OPEC will hurt the N American oil industry by pricing them out of the market. $60.00 oil works for OPEC. Not for the US new methods of deep well drilling fracking etc..

And my question again, what happens to us in Nigeria if oil price reduces further? Will we see reduction on Fuel Pump price OR will it increase because the government is earning lesser from the sales of Oil?

egift:
And my question again, what happens to us in Nigeria if oil price reduces further? Will we see reduction on Fuel Pump price OR will it increase because the government is earning lesser from the sales of Oil?

Is our local market a free market or a government controlled market. You cannot reap where you did not sow.

Its a mixed blessing: lower oil prices would, in a perfect world make our government sit up and diversify the economy. However, this is not a perfect world and I foresee our leaders depending heavily on international aid to fund our economy.

As to whether it would mean higher or lower pump prices; pump prices would increase because our economy has a minimum standard to maintain and if depending solely on oil cannot meet this standard would resort to upping mass taxation rates on consumerables to fill the void.

Is This even a question Inflation is never a good thing especially countries like Nigeria who don't export products.. We only import Nigeria is a country ridiculed with ridiculous leaders.. Until we start a revolution we will continue to generate more poor people.

There's inflation and deres no rise in minimum wage?? How is that a good thing?? Our government. Have failed us woefully. The biggest economy in Africa nothing but a sham. I am not blaming GEJ because we've seen this coming. Nigeria a Failed Nation, one thing am sure off Nigeria were fighting for independence they got it, something the British shouldn't have given to them.

If the British had ruled Nigeria till date. It couldn't be as worse as what we are seeing now. Is there hope for our Nation The Answer is NO!!! With all these political desperados my heart bleeds for these Nation, what are we going to tell our children, what good legacy are we going to leave behind. For our children.. Our Goverment have failed us in all ramification, even countries with less resources are doing better..

My Lecturer once told me that our leaders are Illiterate I obliged but few years later I understand, they should all be stoned to death, starting from 1960, The lagos that generates 76percent of its internal revenue was designed by the British that is why it is still the best state in Nigeria, in shut since the leaders of Nigeria cannot lead our nation let's. get a foreign one ...

Wether you put Sai Buhari there we would just be enriching another individual who claimed he borrowed money yet he chattering a private flight.. Nigerians do you know the barrels of oil we sell everyday

We Nigerians are living in a failed state, Wether we like it or not.. The truth is bitter but it must be said!!!

adrainuche:
Is This even a question Inflation is never a good thing especially countries like Nigeria who don't export products.. We only import Nigeria is a country ridiculed with ridiculous leaders.. Until we start a revolution we will continue to generate more poor people.
There's inflation and deres no rise in minimum wage?? How is that a good thing?? Our government. Have failed us woefully. The biggest economy in Africa nothing but a sham. I am not blaming GEJ because we've seen this coming. Nigeria a Failed Nation, one thing am sure off Nigeria were fighting for independence they got it, something the British shouldn't have given to them.
If the British had ruled Nigeria till date. It couldn't be as worse as what we are seeing now. Is there hope for our Nation The Answer is NO!!! With all these political desperados my heart bleeds for these Nation, what are we going to tell our children, what good legacy are we going to leave behind. For our children.. Our Goverment have failed us in all ramification, even countries with less resources are doing better..
My Lecturer once told me that our leaders are Illiterate I obliged but few years later I understand, they should all be stoned to death, starting from 1960, The lagos that generates 76percent of its internal revenue was designed by the British that is why it is still the best state in Nigeria, in shut since the leaders of Nigeria cannot lead our nation let's. get a foreign one ...
Wether you put Sai Buhari there we would just be enriching another individual who claimed he borrowed money yet he chattering a private flight.. Nigerians do you know the barrels of oil we sell everyday
We Nigerians are living in a failed state, Wether we like it or not.. The truth is bitter but it must be said!!!

Olori buruku Amadioha slap your Igbotic useless mouth, which British designed Lagos?

ibedun:
Olori buruku Amadioha slap your Igbotic useless mouth, which British designed Lagos?

My friend deny all you want!!!

slimfit1:
The poor should be getting ready to eat the poor or the rich any of the above no problem sha.

You guys should stop this nonsense!
Is it from petroleum products that we get food?

If there is hunger in Nigeria, it is because we have become too lazy to produce food.
Some of this food require little or no effort: just a land with a good soil is all we need.

Before oil we were not hungry.
I keep saying it that Africans are just too dumb!
Why did we stop producing food? We'll rather sell oil to import food!
that is stupidity!

You can start from eating the members of your household.
I wish you well.

egift:
I remembered during Obama's reelection campaign, whenever Oil add a Cent or two - Republicans will be criticizing him that he is not doing enough to reduce the volume of Money Americans spend at Filling Stations.

During the Jonathan's Subsidy removal programme, Nigerians protested the resulting effects of increasing Fuel pump-price. It moved from N65 to N97 - As expected everything else adjusted upwards and till date nothing went back to it original cost.

The wind of Decreasing Price of Oil globally is blowing humanity differently. While in some places, citizens will rejoice that it will positively impact them, ours seems to have mix feelings.

So my question is, if Oil price per barrel is reducing, shouldn't that be a good news? If it is current not, does it imply that increasing benefit us? Am interested in this issue at Citizens Level.

@OP,

I wish oil can drop to $20, $10 or even $5 per barrel!
There will be no more handouts!
Governments, federal, state and LGAs will simply collapse!
Lazy men who have nothing to offer Nigeria, who are neither productive nor creative but are our leaders will start thinking of what to do to have income.

The bulk of income will depend on Agriculture and the North will demand for 200% resource control.
Nigeria will split into her different nations!
And all this madness will come to an end.

then we can see ingenuities from Africa!
I wish it can happen so soon!

very very Good, because the oil made it impossible for us to achieve true federalism. a situation where state govs will only have to sit and wait till month end to get awoof from Abuja to bused to pay salaries, so no real for need raising taxes from the residents of the state nor IGR which requires investments, and being immune to arrest or let's say a demi god nobody can or even try to question his actions, so he goes about misbehaving and embezzling how he deems fit. A situation where if a governor does not do well, his state's civil service implodes, I don't think even his Godfathers will show their dirty faces, what I want is let the state generate IGR via investments and taxes and let the FEDs supplement that for the time being till after like six years for those investments to mature fully, then the FEDs will stop supplementing those revenues, this will change a lot of things in Nigeria. I am very happy to hear about this oil price slump, it all started since 2008, read Obama's manifesto, it was a top priority in his Agenda, so as to fight against the Russians.

Should we make a joyful noise for the reduction of the oil price..nba.

If the price can drop to the range of 5-10dollars, then it would be a good news,as it would be enough to weaken the glue, and free my Igboland.
But if it remains above 40dollars, than it's bad,as it might still be enough to keep this colonial anomaly in it's coma state, aka, odi ndu,onwu ka nma, with more suffering to the already impoverished masses

High oil price we did not get any decrease in the price of fuel (in fact it increased), then Oil price fall globally, it still mean hardship - Does it mean none was meant to benefit us?

noblezone:
You guys should stop this nonsense!
Is it from petroleum products that we get food?

If there is hunger in Nigeria, it is because we have become too lazy to produce food.
Some of this food require little or no effort: just a land with a good soil is all we need.

Before oil we were not hungry.
I keep saying it that Africans are just too dumb!
Why did we stop producing food? We'll rather sell oil to import food!
that is stupidity!

You can start from eating the members of your household.
I wish you well.

Don't sleep with your 2 eyes closed brove. Watch that your gate properly.