DonFreshmoney:
Hahaha I no know why this news dey sweet me die..

Nigeria needs to be reformatted to progress.. this should sound as a wake up call to our leaders if we have leaders that have sense.

DonFreshmoney:
Hahaha I no know why this news dey sweet me die..

Nigeria needs to be reformatted to progress.. this should sound as a wake up call to our leaders if we have leaders that have sense.

DonFreshmoney:
Hahaha I no know why this news dey sweet me die..

Nigeria needs to be reformatted to progress.. this should sound as a wake up call to our leaders if we have leaders that have sense.

NaijaMutant:



Our next president after the Kovik-1-9 birus will really have a tough job to do

sulaak:


He will have the easiest job if he has the right strategy and the interest of the country

FemiMaduka:
Nigeria; a very unserious, untidy country. A country that has its priorities wrongly lined up.
For decades we've been dillydallying about this issue of economic diversification. We also had restructuring on the table. If we had agreed to restructuring, we would have inadvertently had a multipronged economy. But, alas, this is Nigeria where very few people see beyond their noses (ethnic and religious shackles).

Whether we like it or not, crude oil has gone to the dogs. Natural Gas still has prospects, but can we even exploit it efficiently, seeing what mess we made of a far friendlier crude oil.

There's a fundamental problem, which clogs the wheels of advancement, with the psyche of an average Nigerian. If you're in doubt, just take a look at how an average Nigerian despises locally manufactured goods. For instance, check the responses to any thread on anything Innoson motors. You'd be appalled. If the Japanese people despised national marques like Toyota, Mitsubishi, Suzuki and Nissan even when they were in their infancy with all the attendant teething-issues, how would they have broken the hegemonic grip that the likes of America and Germany had on the auto-industry.


China's aerospace sector piggy-backed on the more advanced Soviet (Russian) analogue. It doggedly reverse-engineered (some times with permission, and without at some point) Soviet (Russian) designs till it was able to hit her breakthrough. All through this time, the Chinese government and people embraced its poorly built, Russian-clones. They stuck to them religiously. Today, they are already threatening to upstage the American aerospace sector.

This is what happens when a people know what they want and give what it takes.

What do we want?

UnaToto:
UnaToto

saajus:
O ga o. We are not really an oil economy. PWC report says Nigeria officially receives an average of $25Billion remittances annually. Another $15Billion may be going on unofficially. Past 3 yrs, we average $22Billion annually from oil. So, are we truly an oil economy. The research was conducted by Andrew Nevin, a PWC top guy. The research chart shows the lower the oil price, the increase in remittances. The problem is that 90% of those $40Billion remittances from Nigerians in the diaspora go to the South because Northerners don't travel abroad. That's why the poverty rate in the South is 20% compare to 80% in the North. It is not because our Governors are better than their Northern counterparts. They are all corrupt and useless.
With this scenario, the low oil price will only put more pressure on the hardworking 17million Nigerians in the diaspora. You rarely see a family in the South that doesn't have a representative abroad. So you guys in the diaspora, brave up for our calls. Most of u guys are compassionate cos if u think of how u make money you won't send shinshi to anybody at home. u no go allow us to die na.
On the other hand, this will have a direct maximum impact on the North who only sustain on the national cake.

LabDNA:


If Nigerians are sensible, they should capture Oshiomhole and stone him to death for opposing and harrassing Okonjo Iweala when she advocated for build up reserves during her time as Minister of Finance who had foresight.

Oshiomhole protested against her and swore that money musr be shared. Today we are in the woods with a depleted foreign reserve. What lesson did we learn in the last recession? Nothing.

Monkeys and baboons who lack foresight like Oshiomhole should be banned from holding any political post ever again in the country.

lawani:
Yes the money should be shared. Let everyone make their plan independently. We have no business depending on oil money. It should be taxes, with taxes income can not suddenly drop.

falcon01:
wahala dey for naija

iwaeda:


What is this?

Naughtysite:


No sir.

The cost of oil production in Nigeria is $15 to $17 per barrel official from NNPC.

Though I don't know how they calculate the cost of delivery to buyers exchange point.

Naughtysite:


No sir.

The cost of oil production in Nigeria is $15 to $17 per barrel official from NNPC.

Though I don't know how they calculate the cost of delivery to buyers exchange point.

FemiMaduka:
Nigeria; a very unserious, untidy country. A country that has its priorities wrongly lined up.
For decades we've been dillydallying about this issue of economic diversification. We also had restructuring on the table. If we had agreed to restructuring, we would have inadvertently had a multipronged economy. But, alas, this is Nigeria where very few people see beyond their noses (ethnic and religious shackles).

Whether we like it or not, crude oil has gone to the dogs. Natural Gas still has prospects, but can we even exploit it efficiently, seeing what mess we made of a far friendlier crude oil.

There's a fundamental problem, which clogs the wheels of advancement, with the psyche of an average Nigerian. If you're in doubt, just take a look at how an average Nigerian despises locally manufactured goods. For instance, check the responses to any thread on anything Innoson motors. You'd be appalled. If the Japanese people despised national marques like Toyota, Mitsubishi, Suzuki and Nissan even when they were in their infancy with all the attendant teething-issues, how would they have broken the hegemonic grip that the likes of America and Germany had on the auto-industry.


China's aerospace sector piggy-backed on the more advanced Soviet (Russian) analogue. It doggedly reverse-engineered (some times with permission, and without at some point) Soviet (Russian) designs till it was able to hit her breakthrough. All through this time, the Chinese government and people embraced its poorly built, Russian-clones. They stuck to them religiously. Today, they are already threatening to upstage the American aerospace sector.

This is what happens when a people know what they want and give what it takes.

What do we want?

AreaFada2:
Oil needs to go to 5 Dollars a barrel. Politicians have been living beyond our collective means.

When politicians get the salaries of teachers and nurses, only dedicated ones will go into politics.

Because we won't them borrow our futures away from IMF and world Bank to fund their lavish lifestyle.

But currently oil is like a mango tree by the main road. Everyone is taking their undeserved share.

MondayOsunbor:



https://oilprice.com/Energy/Crude-Oil/Nigeria-Boasts-Oil-Production-Cost-of-23-Per-Barrel.html

lordkay10:

In as much as I share your sentiments to curb the greed of our politicians, I believe it's the masses that will be made to pay for this shortfall in crudeoil price, to furnish the lavish lifestyle of these politicians, by imposing higher taxes on the citizenry

EngrXrix:

Not really. The maths behind this is that Nigeria has to ramp up production. Probably by 50% more. It is better to sell a product for 5 naira and have 100mil buyers than sell for 100naira with only 10000 buyers. It’s same principle the saudis are using. By selling cheaper we get more customers then we can balance out the negatives of the trade. This may even lead to employment in exploration and production only diff is salaries won’t be as big as before.
Just Incase u are wondering, I’m in the system and this I know as a fact.

DonFreshmoney:
Hahaha I no know why this news dey sweet me die..

Nigeria needs to be reformatted to progress.. this should sound as a wake up call to our leaders if we have leaders that have sense.

Sweeetheart:
when it was sold $100 pb, $68pb abeg what did I gain or what did common Nigerians gain? no be SUV jeep dem dey use buy for politicians and sponsoring Buhari's unnecessary trip?



person dey struggle dey suffer in this country with high and low sale pb of oil. if oil is sold $2 pb is none of my business

obailala:
The news dey sweet you? Remember that when things like this happen, the last people to get affected are the big men who misrule the country. The poorest of the poor will still be the most affected.