so nigeria has an economy worth destroying?

YabaLeftist:


I was actually referring to the period before the sanctions. I thought the sanctions were imposed just recently, specifically during the tenure of the immediate past president Ahmadinejad.

In any case, even with the sanctions they were still able to sell their oil to some countries, most notably China.

The sanctions were led by d Obama govt, I think as a result of sth involving nuclear plan. Me I hope that they start selling as fast as possible and I also hope every country in the world discover oil, so that we can rest and use our heads.

chax100:
Buhari said he will stabilize oil price. Baba one chance how far dollar price? E good? Snail Baba, Snail Buhari... Brainless Baba Buhari!!!

Child

This is scary...

It actually won't!

grandstar:
If OPEC does its job, there will be no problem.

If member states decide to cut production to offset the increase in Iranian production, it will create an equilibrium.

Unless if Saudi Arabia refuses to cooperate so as to bankrupt US shale producers

U got it right bro, but remember what saudi arabia said in d last opec meeting that they are not ready to cut down their production even if it will continue shrinking below their benchmark. It will not affect their economy and that is y they don't care because of their massive reserve.

grandstar:
If OPEC does its job, there will be no problem.

If member states decide to cut production to offset the increase in Iranian production, it will create an equilibrium.

Unless if Saudi Arabia refuses to cooperate so as to bankrupt US shale producers

Up till date, the US shale producers are still buoyant ? Why haven't they been made bankrupt since ?
But i heard that US is looking for cheaper way of producing their oil.

May God help Naija

Nigeria does produce far above 2million barrels per day, the govt knows about it they just closed them eyes and are feeding us with lies, 2 major terminals known by govt discharges well over 20million barrels per week and we have about 24 terminals in Nigeria, so iran isnt a threat at all, we only need to manage NNPC properly and OPEC to do their job

Make una stop all this doomsday rubbish

Adesiji77:

http://nairametrics.com/tick-tock-how-iran-deal-is-set-to-blow-nigerian-economy-apart/ Cc: lalasticlala, Ishilove

This is serious! I hope our economic managers will help navigate the situation effectively. Thanks for the analysis.

Obama is a psychopath I swear. Imagine doing nuclear deals with a country led my proven mad men that threatened to 'wipe Israel of the map'.. we should all pray America gets a REPUBLICAN president in the next election otherwise the whole world is in for serious trouble.

vislabraye:


Up till date, the US shale producers are still buoyant ? Why haven't they been made bankrupt since ?


May God help Naija

Improvement in technology...Just the same way light crude became less attractive because scientist discovered easier and cheaper ways of refining heavy crude.

Stycon:
It actually won't!

yes it would....the current glut affected all opec member countries and even giants like Canada...If the price falls further..more trouble for some countries be that.

I told Nigerians last year that oil will soon become useless,it's coming,when all those oil companies abandon Niger-delta, that land will be a wasteland.

Born2eatPussy:
[size=20pt]BUHARI[/size]is bent on destroying our once peaceful & lovely country
I told my people not to vote for Buhari but they eventually did, now they are crying like a girl having menstrual pain

[size=20pt]Let's suffer this together so that next time we go get sense[/size]

Go and sit down so GEJ won't have done a beta joy, so suffer only nigga take bck ur poverty.

Shehucom:

Dumb post with a smart phone. .

is time we go back to agribusiness. I will start my on September. watch me out

Born2eatPussy:
[size=20pt]BUHARI[/size]is bent on destroying our once peaceful & lovely country
I told my people not to vote for Buhari but they eventually did, now they are crying like a girl having menstrual pain

[size=20pt]Let's suffer this together so that next time we go get sense[/size]

/
PMB may be bad.

But he was the best among all in the last election.

I am surprised that as good, educated and wise as you are, no party adopted you as a candidate.

\

Iran oil has no bearing with our economy if our theiving politicians stop looting the treasury and PMB recovers all stolen funds right from OBJ, IBB, Abdulsalam to Ebola and his goons. Nigeria will be okay for all. If a barrel goes for $10 and there is Zero corruption, the Nation will still survive. Thanks.

Daliano:
Better...This overdependency don kill us..

Abi o. If we had like 50,000 MW electricity by now, a thriving industrial & Agro-product sector, a decent health care & education sector, decent infrastructure and a soveriegn wealth fund of around $200 Billion dollars, there won't be lamentations.

The purchasing power of reasonably well-off 170 million people would create a massive internal market to attract growth of local businesses. That would reduce our dependence on raw material export and promote output of finished goods for local consumption.

InvertedHammer:


/
PMB may be bad.

But he was the best among all in the last election.

I am surprised that as good, educated and wise as you are, no party adopted you as a candidate.

\

::- Chai ! na only you waka come.

Kill corruption! Develop Agric sector by mechanising it, make agric attractive to youth, process agric produce to finished products and buy made in Nigeria goods. Tap into the gas sector for massive power generation, domestic consumption and for West African market, then you will see dollar prostrating before Naira. This is Ransomenomics for Economic boom devoid of stealing and looting.

AreaFada2:


Abi o. If we had like 50,000 MW electricity by now, a thriving industrial & Agro-product sector, a decent health care & education sector, decent infrastructure and a soveriegn wealth fund of around $200 Billion dollars, there won't be lamentations.

The purchasing power of reasonably well-off 170 million people would create a massive internal market to attract growth of local businesses. That would reduce our dependence on raw material export and promote output of finished goods for local consumption.

Well said.

YabaLeftist:
Iran has the third largest oil reserve in the world, yet the country was not nearly as developed as Dubai or Saudi Arabia. I wonder what they spend their money on.

It's obvious you didn't comprehend the post. Iran has been under ecnomic sanctions for all these years. So even though they have that much oil, the sanctions prevented them from selling to buyers.

madenigga:

They were not actually selling because of sanctions and d war on their country.

There was no war in Iran. Don't confuse Iran with Iraq. It's mainly because of the sanctions.

omojoshy:
Enough of all this propaganda, this is my Field/Discipline and I could prove the writer of this Topic wrong.


1, Nigeria produces far above 2.0 million barrels of Crude Oil daily. Why? We don't have accurate measuring system connected to our various Well Heads. Therefore, we don't get accurate readings.

2, The moment Production Tubing is ran and Completion finishes on a New Well. The so called Operator/Producing Company kick-start Crude Oil production even when the DPR is yet to give a green light to that effect

3, The measuring meters works like the Downstream (Fuel Filling Stations) where one could adjust the meters at will

4, The FPSO vessels loading and discharge Crude Oil without proper monitoring. This gives way to foul-play

5, The amount of Cubic Natural Gas being Flared daily in 2014 ALONE was estimated at $140 billion. This amount alone could make huge impact on our Economy.

6, The list is endless


Let's put our ass together, do what is right and make the system work.

If Saudi could produce 10 million barrels daily, Nigeria should be able to hit 5 million.

Iran is NEVER a threat to Nigeria.

Delusion of grandeur

The news sounds gloomy
But i think Nigeria stands to benefit more, with a total crash in world oil prices, Nigeria will be forced to seek other avenues of generating wealth, and therein lies the good news!

ransomed:
Kill corruption! Develop Agric sector by mechanising it, make agric attractive to youth, process agric produce to finished products and buy made in Nigeria goods. Tap into the gas sector for massive power generation, domestic consumption and for West African market, then you will see dollar prostrating before Naira. This is Ransomenomics for Economic boom devoid of stealing and looting.

- are u advising Nigeria to become an agrarian economy, in this 22nd century?
- Gas to power, how secure?

its no news that Iran is that great,in fact it has recently been extimated that i Iran might be on the list of developed nations just a few yrs from now,apart from having a govt that is obsessed with security,they are very very paranoid in nature...
now back to o the news,Nigeria are far behind when talking about matters of crude oil distribution and relating matters,that's one downside of not being of not being friendly with US but I wouldn't blame them,only if our looters could manage our funds properly

ransomed:
Kill corruption! Develop Agric sector by mechanising it, make agric attractive to youth, process agric produce to finished products and buy made in Nigeria goods. Tap into the gas sector for massive power generation, domestic consumption and for West African market, then you will see dollar prostrating before Naira. This is Ransomenomics for Economic boom devoid of stealing and looting.

I agree with you,agriculture is one sector any country can't neglect,even India GDP has risen becoz of it,just that over the years we have come to expect more from the govt and the govt officials can hardly plan for themselves let alone a great black nation..
it's diverstating in nature

No matter wat... Nigeria is blessed and shan't be cursed....