₦airaland Forum

SamuelAnyawu:
Great News for countries who use their oil proceeds for Infrastructural development

magicminister:
CRUDE OIL PRICES HAS GROWN BY ABOUT 200% SINCE BUHARI AND OSINBANJO GOT INTO OFFICE THIS CURRENT ADMINISTRATION KEEPS MAKING EXCUSES.

RATHER THAN INVESTING IN CAPITAL PROJECTS, BUHARI DECIDED THAT IT WAS BEST TO USE OUR 462 MILLION DOLLARS (166 BILLION NAIRA) FROM OUR EXCESS CRUDE MONEY TO BUY OUTDATED JETS FROM THE UNITED STATES...

THAT MONEY COULD HAVE BUILT A WORLD CLASS UNIVERSITY OR UPGRADED SOME OF OUR CURRENT UNIVERSITIES
THAT MONEY COULD HAVE BUILT WORLD CLASS HOSPITALS WITH WORLD CLASS EQUIPMENTS.
THAT MONEY COULD HAVE FIXED ALOT OF FEDERAL ROADS (DEATH TRAPS) IN THE 36 STATES.
THAT MONEY COULD HAVE BEEN USED TO BOOST AGRICULTURE IN THE NORTH AND ALLEVIATE POVERTY

THERE ARE SO MANY THINGS WE COULD'VE DONE WITH THE MONEY BUHARI WASTED ON MILITARY JETS THAT HE CLAIMED WOULD BE USED TO FIGHT THE ILL EQUIPPED TERRORIST GROUP.

Clemostica:
Deploying the Saudi Oil Weapon Against Russia

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The West should target a crucial vulnerability of Russia today: its general economic weakness and its heavy dependency on oil revenue, writes leading security and risk analyst, Neil Barnett, in Deploying the Saudi oil weapon against Russia.

Today the West appears powerless in its reaction to President Putin’s intervention in the Ukraine; and possibly in the wider region.

Yet this need not be so: it has been estimated that, if the oil price fell below $90/barrel, “Russia would suffer serious economic pain” (the current oil price is about $103/barrel).

Any collapse in oil prices could only be achieved by encouraging Saudi Arabia to increase oil production substantially, thereby deploying the “Saudi oil weapon”. This has been successfully used on at least two previous occasions: once against the West following the Yom Kippur war (when supply was restricted to increase prices); and once against the USSR following its invasion of Afghanistan.

The Saudis would have two reasons why they might do this:
- it would give Saudi Arabia a rod with which to punish Russia over Syria;
- it would enable close relations to be re-established between the US and Saudi Arabia following their dispute over US-Iranian rapprochement.

In addition, Saudi’s huge financial reserves (at least eight times greater than Russia’s) and its substantial foreign investments would enable it to weather a lower oil price without too much pain.

A lower oil price, and a reduced security risk, would also give a shot in the arm to global economic demand (itself a further benefit for Saudi Arabia).

Barnett thus concludes that the Saudi oil weapon – or at least the threat of its deployment – could therefore encourage Russia to realise that further intervention is not in its self-interest.

Neil Barnett - Wednesday 26th March 2014

Neil Barnett

Moghalu4Pres:
But foreign reserves won't rise proportionately.

Moghalu4Pres:
But foreign reserves won't rise proportionately.

nero2face:
Good news

SamuelAnyawu:
Great News for countries who use their oil proceeds for Infrastructural development

aribisala0:
What is the relevance of foreign reserves to this topic.

magicminister:
CRUDE OIL PRICES HAS GROWN BY ABOUT 200% SINCE BUHARI AND OSINBANJO GOT INTO OFFICE THIS CURRENT ADMINISTRATION KEEPS MAKING EXCUSES.

RATHER THAN INVESTING IN CAPITAL PROJECTS, BUHARI DECIDED THAT IT WAS BEST TO USE OUR 462 MILLION DOLLARS (166 BILLION NAIRA) FROM OUR EXCESS CRUDE MONEY TO BUY OUTDATED JETS FROM THE UNITED STATES...

THAT MONEY COULD HAVE BUILT A WORLD CLASS UNIVERSITY OR UPGRADED SOME OF OUR CURRENT UNIVERSITIES
THAT MONEY COULD HAVE BUILT WORLD CLASS HOSPITALS WITH WORLD CLASS EQUIPMENTS.
THAT MONEY COULD HAVE FIXED ALOT OF FEDERAL ROADS (DEATH TRAPS) IN THE 36 STATES.
THAT MONEY COULD HAVE BEEN USED TO BOOST AGRICULTURE IN THE NORTH AND ALLEVIATE POVERTY

THERE ARE SO MANY THINGS WE COULD'VE DONE WITH THE MONEY BUHARI WASTED ON MILITARY JETS THAT HE CLAIMED WOULD BE USED TO FIGHT THE ILL EQUIPPED TERRORIST GROUP.

wirinet:
Why won't it rise proportionately? Foreign reserves has been rising proportionately since oil has started picking up and has risen to be one of the highest in Africa.

Moghalu4Pres:
More dollars more reserves. To have gone from $27 to $80, the reserves should have exceeded at least $70 bn by now. Algeria has reserves of more than $100bn. Understand better?

DONADAMS:
Lol..if not for my yahoo friends..I wouldn't know you're talking about U.S banks

SternProphet:
Before the crude oil prices started rallying, the A PC government had already started building infrastructure, diversifying to agriculture and helping the poor. If you are a young lazy guy in the city spending your time on social media you won't see it. This government is for farmers, engineers, builders, scientists not for urban dwelling dummies.
Everything you have posted in capital letters here were already being done whenmoil was $45 A barrel. I don't know what you thought Buhari was, some corrupt weak amateur too grateful to be in Aso Rock like GEJ?

Please keep your eyes focussed and your brains working by early 2019 you will gnash your teeth as a PEP supporter wgphwn you see how a govt should work

wirinet:

THIS WAS THE SAME PRICE OIL WAS WHEN OKONJO-IWEALA WAS TELLING US TO BRACE FOR TOUGHER TIMES AHEAD AND STARTED BORROWING TO PAY SALARIES.

THE SAME CAPITAL PROJECTS JONATHAN INVESTED IN WHEN OIL ROSE TO $130.
IF BOKO HARAM SHOULD OVERRUN MAIDUGURI, ABUJA OR EVEN YOUR VILLAGE, WOULD YOU STILL BE TALKING ABOUT INFRASTRUCTURE? AND YOU WILL STILL BE BLAMING BUHARI FOR IT.

THE SAME WORLD CLASS HOSPITALS AND WORLD CLASS UNIVERSITY THAT JONATHAN USEDTHE OIL WINDFALL AT OVER $100 FOR OVER 4 YEARS BUILT.

SO BUYING MILITARY AIRCRAFT IS A WASTE? THAT MEANS ALL COUNTRY'S THAT BUYS MILITARY AIRCRAFTS ARE WASTING THEIR MONEY. ARE YOU AWARE THAT OUR NEIGHBOURING COUNTRIES HAS ALSO BE " WASTING" MONEY BUYING MILITARY AIRCRAFTS.

I'LL EQUIPPED TERRORISTS GROUP THAT WAS ABLE TO CAPTURE OVER 14 LOCAL GOVERNMENTS UNDER YOUR HERO AND MADE YOUR HERO DREAD GOING TO THE NORTH EAST NOT TO TALK OF SAMBISA FOREST.

HIGHESTPOPORI:
There was no Fulani herdsmen and senseless killings there,we saw developments,but now we only hear of fighting corruption and security,but the killing s are increasing? What's the money been borrowed used for?

1. February 2013 Fulani Attacked Agatu burning Inoli, Ologba, olegeje, olegogboche, olegede, Adana, Inminy and Abugbe communities. Many lives lost.

2. April 23 2013.

10 farmers killed in an attack on Mbasenge community in Guma LGA by suspected herdsmen.

3. May 7, 2013.

47 mourners gunned down in Agatu while burying two policemen killed the Tuesday before in Nassarawa.

4. May 14, 2013.

Over 200 herdsmen surround Ekwo-Okpanchenyi, Agatu LGA killing 40 locals.

5. July 5, 2013.

20 people were killed in a “conflict” between Tiv farmers & herdsmen at Nzorov,Guma LGA, Benue state.

6. July 31 2013

herdsmen invade 2 villages in Agatu LGA killing 8 villagers allegedly in retaliation for the killing of 112 cows

7. November 7, 2013.

Attackers strike at Ikpele & Okpopolo communities killing 7 and displacing over 6000 inhabitants.

8. Nov 9, 2013.

36 locals killed and 7 villages overrun in an attack by herdsmen on locals in Agatu LGA.

9. Nov 20, 2013.

Attack on communities in Guma LGA, killing 22 locals and destroying properties worth millions of naira.

10. Jan 20 2014.

Gunmen attack Agatu LGA, killing 5 soldiers and 7 civilians.

11. Jan 20, 2014.

Attack on Adeke village. 3 dead.

12. 20-21 Feb 2014.

Herdsmen attack Gwer West LGA. 35 persons killed. 80,000 displaced. 6 Council Wards Sacked

See here for more - http://africanheraldexpress.com/blog8/2018/01/08/timeline-of-herdsmen-attacks-in-benue-state-from-2013-2018/