₦airaland Forum

At a crucial OPEC meeting to tackle the menacing oil glut problem, four nations: Saudi Arabia, Russia, Venezuela, and Qatar agreed to a oil freeze of production. Nigeria representative Ibe Kachukwu was absent at this meeting even after his much publicised statements that he and OPEC colleagues would stop the oil glut and free fall of oil price by cutting production. But instead of that, the Four nations have decided to stop oil production. Iran was also not at this meeting, insisting that they want a share of the oil market, and would not cut production for anyone. Our sources indicate that Russia also, is not truly going to stop production, but is merely playing a game of chess. Also, the oil price crashed due to this silly agreement.
http://www.telegraph.co.uk/finance/oilprices/12159052/Oil-prices-crash-after-Saudia-Arabia-and-Russia-agree-to-freeze-production.html

http://www.cnbc.com/2016/02/16/oil-prices-spike-on-reports-of-saudi-russia-output-cut-talks.html

oil this oil that....that is the only thing Nigeria knows....no wonder as things got bad in the sector the country went into comatose

Nigeria needs to start looking at other sector.

Flexherbal:
Nigeria needs to start looking at other sector.

Keep dreaming. You think Sectors are made vibrant overnight. The reason why hunger is not yet killing this nation, is due to the brilliant maneuver's made by NOI in 2014. When the APC are through with the treasury and savings made by the former minister of finance, you people will start eating yourselves. Get ready for the bloody revolution that will hit the government by December.

Hilarious. How can proganda government affect economical change when not even present in the times of decision-making? So Nigeria's interest was not represented. Only four countries attended the meeting to decide for everyone else? Hmph!

this issue crossed my mind and it dawned on me that Nigeria is not really important in this oil manipulation, well its high time we diversify