₦airaland Forum

when will naira go back to N150 to 1USD?

More money for APC to loot

Isoko1stSon:
Apc will Loot All the excess

I think they tried taking the resvs to $34b judging from the fact that the last gvt brought the reserves to $29b from $$61b where they met it having in mind that the price had been above $100pb during the pdp time

stephany007:
But Buhari has not paid salaries till now. Too bad sha

Which salary ? Maybe u have been reading the back of the news .
Even those owed by ur hero have been paid & states also relieved

Dem son get December awoof...talking of d useless government

will this have any impact or reasonable meaning to nigeria and all Nigerians in General. . .the elites are just smiling cos it means more money to share this Xmas season. . .when they have excess crude oil fund, they could not pay workers, they collected bail out funds, yet no way, na so so story we hear. .is it when oil prices rise again that they will pay?

www.valentine202.com

dotdauda:
Which salary ? Maybe u have been reading the back of the news .
Even those owed by ur hero have been paid & states also relieved

federal workers never receive salaries which one be HERO matter must you be an ass hole with everything Grow up.

Don't forget that with a rise in oil prices comes a rise in subsidy costs for Nigeria.

Don't know if I should say good news, considering our habit of mismanagement,

Hope government will attend to all our entitlements now including our 33% pension increase since 2010 in the power sector?

If the government know what is good for them, they should start preparing for a life where oil is no longer as valuable as.
Car companies are going down the electric car route and with mandates in several European countries on switching to cleaner cars, the demand for oil and petroleum products will drop.

If Nigeria does not get ready for this inevitable future we will be in BIG shit

Let me take a bottle of heineken...this is goodnews...but wait a minute, hope our so-called politicians won't loot the excess crude?

Standing5:
A gov that can survive with oil at $40 should grow the economy rapidly at $65.
Let's hope the Buhari govt doesn't use the majority of it to prospect for oil in Nasarawa and Kano.

......and what is wrong with prospecting for Oil? Bros, don't be fooled by political statements of politicians in all facets of our society. Basic geology tells us that Oil is found in traps in most basins. We are currently exploiting the Niger-Delta basins, what happens to other basins? Chad & Niger for example are exploring their own end of basins that shares common "features" with ours.

I think many of you have "bad-belle" and are uncomfortable to a reality that Oil will be discovered in the North

Isoko1stSon:
Just Imagine how much shud be In the excess crude Account

Pray tell! how should we imagine it?

Is it from $65b >> $29b

Or

Is it from $29b >> $34b

kullozone:
Lol... Buharee, hold your people make them no kill us finish with lies oh!

1. Too much "Villageness" is your problem?
2. Who is "Buharee"?
3. You mean Buhari influenced/sensored the international oil price and got the global media to lie to you?

"who has bewitched you?"

mapet:
......and what is wrong with prospecting for Oil? Bros, don't be fooled by political statements of politicians in all facets of our society. Basic geology tells us that Oil is found in traps in most basins. We are currently exploiting the Niger-Delta basins, what happens to other basins? Chad & Niger for example are exploring their own end of basins that shares common "features" with ours.

I think many of you have "bad-belle" and are uncomfortable to a reality that Oil will be discovered in the North

Don't infect me with your zombie bug sir. Have we refined the one gotten from ND to maximize its value ? NO.
You are here talking nonsense about wasting more funds all in the name of exploring basins.
Go sort yourself with that poster you with whom contradicted yourself while posting zombie stuff. I might be out of Nairaland but not out of touch.

INTEGRITYA1:
That's good one, with the current trend in price increase; it will be better if Apc lead government can utilize the opportunities by channeling the resources towards stabilizing the Economy, this is a plus to us because 2017 budget was benchmark at $38 per barrel. With this APC should stop the blame game and brace up to tackle current economic hardship.

1. How did we get here in the first place? If the previous govt had understood (or so I imagine) that they needed to be responsible enough to continue building our foreign reserves (which is the "shock absorber" to effects of economic down-turn) rather than recklessly deplete it, we would not have found ourselves in this mess

2. That the Oil price is going up does not necessarily mean we should start to celebrate. We need to among other initiatives, continue build our foreign reserve month-on-month. That is critical to stabilise the forex, force it down and gradually impact the economy. There is no free money anywhere. ECA should be emptied into the SWF and should either be used for infrastructure development or committed to exports

Standing5:
Don't infect me with your zombie bug sir. Have we refined the one gotten from ND to maximize its value ? NO.
You are here talking nonsense about wasting more funds all in the name of exploring basins.
Go sort yourself with that poster you with whom contradicted yourself while posting zombie stuff. I might be out of Nairaland but not out of touch.

You are either in denial or damn too stu.pid to respond to my direct question. Let me take it further, So what happens when the so called oil from your famed ND expires? Do you even know the oil business ? Oh! I see! you're just another "rat" that looks for freebies?

Unfortunately, I had imagined you were beyond the sub-par reasoning capacity zone.....but my bad! I'm sorry I mistook you for someone else

dotdauda:

stephany007: :
But Buhari has not paid salaries till now. Too bad sha

Which salary ? Maybe u have been reading the back of the news .
Even those owed by ur hero have been paid & states also relieved

Bros,

You need to understand him. He is restating the excuse the "master" he serves tells him as reasons for owing him - "Buhari has not paid salaries till now". Worse still he has not processed it

chuckdee4:
If the government know what is good for them, they should start preparing for a life where oil is no longer as valuable as.
Car companies are going down the electric car route and with mandates in several European countries on switching to cleaner cars, the demand for oil and petroleum products will drop.

If Nigeria does not get ready for this inevitable future we will be in BIG shit

Agreed.

But before then, first step is to now SELL AS MUCH OIL AS WE CAN, as pump the money into infrastructural development, SME development, tourism etc

mapet:
You are either in denial or damn too stu.pid to respond to my direct question. Let me take it further, So what happens when the so called oil from your famed ND expires? Do you even know the oil business ? Oh! I see! you're just another "rat" that looks for freebies?

Unfortunately, I had imagined you were beyond the sub-par reasoning capacity zone.....but my bad! I'm sorry I mistook you for someone else

It is a only mental case like you that will prioritize refining of crude that's been proven to exist below gambling to discover new crude reserves.
How many prospecting did the nation do to get crude in Oloibiri? I don't know what you are taking - coke, weed, bribe, or salary - for you to profer that instead of maximizing what we have we should sell it cheap and use it to gamble for more. Parasitic thinking of mental wreck.

mapet:
Agreed.

But before then, first step is to now SELL AS MUCH OIL AS WE CAN, as pump the money into infrastructural development, SME development, tourism etc

So true but do you trust this government to do that?
Norway (Or one of those Scandinavian countries) has been saving their proceeds from oil for a very long time and now have over a Trillion dollars saved up in their reserves (This is where we should have been). Countries like that don't worry about the future of oil prices because they have secured their future and that of the next few generations with their decision making

mapet:
1. How did we get here in the first place? If the previous govt had understood (or so I imagine) that they needed to be responsible enough to continue building our foreign reserves (which is the "shock absorber" to effects of economic down-turn) rather than recklessly deplete it, we would not have found ourselves in this mess

2. That the Oil price is going up does not necessarily mean we should start to celebrate. We need to among other initiatives, continue build our foreign reserve month-on-month. That is critical to stabilise the forex, force it down and gradually impact the economy. There is no free money anywhere. ECA should be emptied into the SWF and should either be used for infrastructure development or committed to exports

So says a mental wreck.
You flaws of past admin shouldn't be used as an excuse by the current adming to perpetrate more evil.

Standing5:
It is a only mental case like you that will prioritize refining of crude that's been proven to exist below gambling to discover new crude reserves.
How many prospecting did the nation do to get crude in Oloibiri? I don't know what you are taking - coke, weed, bribe, or salary - for you to profer that instead of maximizing what we have we should sell it cheap and use it to gamble for more. Parasitic thinking of mental wreck.

This is dumbness written all over your submission. Let me cleanse your dumbness with some simple education (google)

1. Did you ask "How many prospecting did the nation do to get crude in Oloibiri?"

Exploration history
Oloibiri Oilfield was discovered on Sunday 15 January 1956 by Shell Darcy. It was the first commercial oil discovery in Nigeria; this discovery ended 50 years of unsuccessful oil exploration in the country by various international oil companies and launched Nigeria into the limelight of the Petro-State.
https://en.wikipedia.org/wiki/Oloibiri_Oilfield

2. Maximising what you have? So you think oil comes from an inexhaustible source? don't worry I was not expecting basic reasoning from you.......

Standing5:
So says a mental wreck.
You flaws of past admin shouldn't be used as an excuse by the current adming to perpetrate more evil.

I was wondering how you suddenly become interested in engaging in a debate with rational people. Unfortunately you can and should stand by the side and watch, as this is beyond your reasoning capacity

hypocrites. thought they said nd oil revenue was useless. why are y'all gloating over this news now? parasitism.

chuckdee4:
So true but do you trust this government to do that?
Norway (Or one of those Scandinavian countries) has been saving their proceeds from oil for a very long time and now have over a Trillion dollars saved up in their reserves (This is where we should have been). Countries like that don't worry about the future of oil prices because they have secured their future and that of the next few generations with their decision making

Well, if they have demonstrated the capacity to begin to grow our foreign reserves again, why not. Which govt were you thinking? OBJ did it, Yar'Adua did it as with the current govt. It is irrelevant whom I "trust", it is the committment and actions to do it that counts. We need to build our reserves and infrastructure with peak oil funds.

The bolded part up here is exactly my drift

mapet:
Well, if they have demonstrated the capacity to begin to grow our foreign reserves again, why not. Which govt were you thinking? OBJ did it, Yar'Adua did it as with the current govt. It is irrelevant whom I "trust", it is the committment and actions to do it that counts. We need to build our reserves and infrastructure with peak oil funds.

The bolded part up here is exactly my drift

I hope you are right, time will tell.
Don't blame me for being a sceptic, like most Nigerians, my eyes don see things

mapet:
This is dumbness written all over your submission. Let me cleanse your dumbness with some simple education (google)

1. Did you ask "How many prospecting did the nation do to get crude in Oloibiri?"



2. Maximising what you have? So you think oil comes from an inexhaustible source? don't worry I was not expecting basic reasoning from you.......

Mumu. Who said present crude reserves will never be exhausted? Always replying to figments of your unbalanced imagination.

mapet:
Bros,

You need to understand him. He is restating the excuse the "master" he serves tells him as reasons for owing him - "Buhari has not paid salaries till now". Worse still he has not processed it

Buhari has Zombified so many Nigerians that dey can no longer reason imagine someone is owing you and you still praising him i just taya .