₦airaland Forum

bushdoc9919:
Well...we raid the Savings account (excess crude) again.

But...belts will be tightened in the long run.

It would be the 1980's all over again.

gratiaeo:
The price is around $47.5 per barrel at international market. Probably the state government and their family member will buy at that price. They should be discussing how to diversify the economy and move away from over reliance on oil. Nigeria can survive on tax and agricultural alone without oil but the government is too lazy and corrupt. They are

bushdoc9919:
Assuming he (Buhari)..takes over....and gets enough OPEC members on his side to stop the Saudis pumping more oil...he could stabilize the price so to speak.

But....times are changing....which is why your PDP and APC better start developing industrial programmes ....

mtprofessor5:
Don't worry buhari will stabilize the price for us

dvee2:
They promised to diversify the economy six years ago, today nigerian economy is still mono oil dependant. Fifteen years of People Deceiving Party. Are you going to give them another four years?

siraj1402:
I pray it fall to zero(0) and let everyone rest.Evil oyel.

jingh:
The only thing am waiting to fall is Jonathan on Feb 14.
buhari until Jonathan get ball to tell his wife sit down there.

#buhari4change

bushdoc9919:
Assuming he (Buhari)..takes over....and gets enough OPEC members on his side to stop the Saudis pumping more oil...he could stabilize the price so to speak.

But....times are changing....which is why your PDP and APC better start developing industrial programmes ....

davide470:
Law of the Price of Crude Oil: Whatever falls down, must go back up.

Check the historical charts.

bushdoc9919:
Here is what Nigeria must do

1.Remove fuel subsidy. Invest half the money in technical education...the other half in power and rail transport.

bushdoc9919:
Here is what Nigeria must do

1.Remove fuel subsidy. Invest half the money in technical education...the other half in power and rail transport.

2.Raise education spending to 26% of the budget....and spend more on primary and secondary education. Raise university fees to 150,000 naira per semester. All universities to be public private institutions (Sorry....but you are not diminished by not having BSc). Technical schools/polys are to be made free of charge...

3.Spend more on security. Set up a Special Purpose Unit of the Armed Forces to engage in assymetric warfare....with the aim of beating Boko Haram.

4.Spend more on power. At the same time attract foreign investors...to come and set up industries that will train our people...and give them jobs.

5.End corruption.No exceptions.No more story.You caught...you get jail....even if you are as close to the President like leaves to trees...

6.Improve learning in our mother tongue....and at the same time improve technology that would enable communication across tribes.

Nigerians...we can do it.

mavelo:
And vice versa

gatiano:
I am not an economists, i'm not that a brilliant person. 1 but simple mathematics makes me understand that this is a good news. I am praying that it should 2 go down as low as 15$ to 10$ per barrel. everything else would go cheaper and it will fuel industrialization in Africa as well as it will fuel wars.
3 America claims that they are the largest oil producers and/or also with the largest reserves. loooool 4 those are confirmed stolen oil from all of africa, libya, egypt, iraq, syria, they've got all of the middle east oil under their wings, they don't now want compititors, so russia must fall to her knees, iran and few latin american countries too not yet fully under the united state's control. Thus, their plan is when all (oil and gas producing countries) has fallen before the so called american empire/british, 5 they can now sell the oil for like 300$ per barrel for starting price (since in truth, there aren't that much oil left).
like i always say, "the devils plan, but GOD is the best of all planners, good or evil."

Billyonaire:
This is a disaster waiting to happen, as petroleum companies will plan laying off workers, reviewing take-home pay and battling the cost of production. Ordinarily, its supposed to be goodnews to everyone worldwide. Low price of Brent crude should relatively mean lower prices of petroleum product for economies that had no subsidies on the products. Low price of gas means lower cost of manufacturing of consumer goods. But the Capitalist oligarchs down the chain will hoard certain products on the value chain and exploit the immediate consumer.

Unfortunately, the price of crude oil will not be as high as it used to be, because US is self-sufficient now.

davide470:
Yes, that's how balance is restored.


1• Not a Good news to Oil Exporting countries, only Importing would be rejoicing.

2• When Oil get to that price, in short, it can never get to that price.

3• They never said they are.

4• So America dug up all the Miocene and Oligocene Reservoirs and carried it on their ships and planes and pockets to plant it on their soil.. Interesting.
Heard of Shale Oil before?
All Midle east under their wings---That statement alone is pre-postrous

5• The world have not even started exploring half of the Oil contained in Earth.

davide470:
Yes, that's how balance is restored.


1• Not a Good news to Oil Exporting countries, only Importing would be rejoicing.

2• When Oil get to that price, in short, it can never get to that price.

3• They never said they are.

4• So America dug up all the Miocene and Oligocene Reservoirs and carried it on their ships and planes and pockets to plant it on their soil.. Interesting.
Heard of Shale Oil before?
All Midle east under their wings---That statement alone is pre-postrous

5• The world have not even started exploring half of the Oil contained in Earth.

gneisss:
,
any reasonable government would have seen this coming but no, nigeria didnt, always waiting for something to happen

siraj1402:
I pray it fall to zero(0) and let everyone rest.Evil oyel.

jingh:
The only thing am waiting to fall is Jonathan on Feb 14.
buhari until Jonathan get ball to tell his wife sit down there.

#buhari4change

ikp4succes:
e don finish for naija na..u na go dey drink am soon

lonelydora:
Take one bottle for my head.

RicKyRichards:
Oil will never again be sold for >= $100 per barrel, so welcome to the new world.

henchyk:
To be very honest, if you are an intelligent person you will have come to the conclusion by now that Oil has done more harm to this country than good. Which really is a pity because the wealth that came from oil if managed well would have made this country a global power by now. It's just sad that our nation has been perennially cursed with uber-greedy and heartless leaders in power. They're so greedy that it actually does not make sense anymore. Stealing wealth that even your 10th generations can't exhaust. It's the kind of stealing that you simply associate with illiteracy but yet Alot of these people claim they're educated. It makes me very sad when I think about it.

What oil did for us was to bring out in full force the greedy nature of Nigerians. This thing is particularly peculiar to Nigeria. Other countries in similar or even worse situations than us decades of years ago are now well ahead of us because their leaders where sensible enough to put national interest before personal interest. It's quite possible that those leaders themselves stole money but at least they didn't steal like fools. Now their countries are well ahead of us economically while we remain here bearing the title of Giant of Africa. My people used to say it is the big title/name that ends up killing the dog.

I think oil needs to be permanently devalued. Because all the while oil had been like gold, we the ordinary masses of this country didn't reap any dividends. So why should I be sad that oil is going down. If anything, it's good news. It means these evil politicians sooner or later won't see anything to steal again and then they'll leave political offices for people who actually have the interest of this country at heart to contest. That's my prayer.

iaatmguy:
you are very correct but those greedy pigs will result to taxation to cover up for their looting. Austerity measures that did not touch N Assembly 150 billion naira budget. Smh for nigeria

gatiano:
xaxaxa taxation? There was once a king, He sent his guards to go collect taxes from the citizens, when the guards got to the citizens the first time, the citizens paid gladly. on the second time, the citizens paid too but was a little angry, the third time they (citizens) paid half complaining about conditions, The king won't accept half, anyways with grooning and crying, the citizens paid. On the forth time, citizens went flat out crying "noooo money oooo",The king sent the guards back to collect the taxes however ways possible, they did collect the taxes in full while the citizens cried and angered so badly. On the fifth time, the guards wnt to collect as usual, The citizens started laughing and making jokes and it seemed as if all was good and they were going to pay thought the guards, but people (citizens) just went on laughing and in happy, jolly mood. They went back to the king hoping to get authorization to forcefully collect taxes. The guards got so amazed when the king too blasted into laughter. He told his guards "you can't take nothing from a laughing people that had been giving and paying crying, even on to their death, they won't give because they've got nothing to give" xaxaxaxax he laughed on, The smartest guard out of all the bunch said the king is laughing because th treasury is missing.

xaxaxax dude.. taxation from where? Time will tell

InvertedHammer:
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Currently challenging trend line support from 1999.

Confirmed break and close below will yield another $12 flush out.

Cave ne sedes

Be careful about snap back. If it does, throw away all indicators and let it run because the primary goal will be to demolish as many stops as possible.

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