Nigeria May Go Bankrupt As Crude Oil Price Falls - Politics (2) - Nairaland
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| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by edoyad(m): 10:12pm On May 14, 2010 |
What's all this talk about the price of oil ? My boys Ahmedinajat and Chavez have this situation on a lock down, they can send it swinging the other way with just 5 words. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by honeric01(m): 10:28pm On May 14, 2010 |
who cares? even when it went to $141, how did it benefit the common man on the street? if it likes, let it go down to $5, Nigerians would still survive, but the criminals (leaders) would be the one running around with empty account or about to be emptied account  |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by paddylo1(m): 11:37pm On May 14, 2010 |
I think the question should be directed at Paddylo who told us authoritatively that crude oil would never cross $67/barrell. . . crude is just undergoing a little correction,in anticipation of its upward march to $100 by 2011. . . There are 6billion ppl in the world in 2000 and there will be 7billion people by next yr 2011 all these people will need energy. . .by 2020- there will be over 8billion ppl Meanwhile recoverable daily oil production continues to stagnate. . and new oil fields are harder to get to. . . . we are safe at least for the next 20yrs. . . |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by EzeUche(m): 1:22am On May 15, 2010 |
May Nigeria crumble because of oil. They slaughtered my people to keep this country one because of oil. Now look at the Irony. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Omolulu(m): 5:46am On May 15, 2010 |
EzeUche:you are mad |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by honeric01(m): 9:20am On May 15, 2010 |
Has Nigeria not crumbled? |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by lagerwhenindoubt(m): 1:26pm On May 17, 2010 |
why are you guys worried. have you not noticed that Sovereign Wealth Fund (Formerly Excess Crude Funds) Drops by a huge percentage when crude Prices rise  you should all be happy because a drop in crude prices will only mean that our Sovereign Wealth Fund will rise in exactly the same proportion  |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by AroOkigbo(m): 1:33pm On May 17, 2010 |
EzeUche: Hi, this is my brother talking. Anaghi agwa nwa Aro n'Ibili Ukpabi si ka ekele ya. If the price of oil drops below the budgeted value, they shouldn't complain but, for once, make up the difference from the sum of years of unaccounted revenue from gas!!!!. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by member479760: 1:46pm On May 17, 2010 |
I hope it falls below $50 so that we can spend less on gas. It’s better for people to feel the impact in this way than the government having excess to loot. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by chidichris(m): 1:59pm On May 17, 2010 |
my prayer is that it comes to $20 per barel. who knows, that might be the miracle or turning point we have ben praying for. at least all professionals will go back to their professions and no one will kill, die or commit funny things to become a ruler because oil is the root of all evils in nigeria. if the price comesdwn to $20, no one will have the mind to give out $16 b just for no reason. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by eros(m): 2:54pm On May 17, 2010 |
That will be a welcome development, wouldn't it?  |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by bigben3: 3:00pm On May 17, 2010 |
there is sense in diversification of our economy,too much oil money is slowly killing us.the crude oil price must ridiculously fall for the veil in our eyes to be removed.we must go back to the pre -oil era and also develop our human capital |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by ijcu(m): 6:05pm On May 17, 2010 |
abeg make crude oil price drop make we rest .make all man begin farm .as dem dey read this news price of anxiolytics and antihypertensives go dey rise and onitsha traders go dey smile to the bank |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Bertbert: 7:03pm On May 17, 2010 |
LET NOT YOUR HEART BE TROUBLED. The price of crude oil has never been static, soon it will rise higher than you might believe. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Nobody: 7:08pm On May 17, 2010 |
What difference does it make when a very little portion of our national budget is spent on capital expenditure ? |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Nobody: 8:29pm On May 17, 2010 |
is this why that guy (nnpc director) was fired? |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by maclatunji: 10:24pm On May 17, 2010 |
I watched the Minister of State for Finance, Aderemi Babalola and the Accountant General of the Federation on AIT this afternoon. They allbutsaid that Nigeria is broke. they confirmed that the excess crude account has been virtually depleted and they are finding it difficult to Finance the budget. If you are analysing base your analysis on these facts. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by jokingmary(m): 9:33am On May 18, 2010 |
Nigeria go bankrupt? why can't the CBN just print out money |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Goldmind1(m): 12:41pm On May 18, 2010 |
@jokingmary Printing more naira will make naira worthless and inflation will set in, the exchange rate for $1 could get to N200 in a little time. By then I don't think I'll still be found in Nigeria. Zimbabwe is a case study. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by jessefly: 2:23pm On May 18, 2010 |
BLOW UP ONE PIPELINE ALWAYS WORKS IN SENDING PRICES UP WE CAN HELP OUR OWN ECONOMY OUT HEHE |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by amycable(f): 3:57pm On May 18, 2010 |
The best thing is for nigeria to begin to move towards a low carbon economy, it will interest us to know that U.S. which is the highest importer of our crude oil is developing alternative energies void of fossil fuel. This is a means of addressing climate change which results from using fossil fuel, many other industrialised countries are doing so too. So u could imagine what will happen to our economy when all these big countries that buy fuel from us stops buying. We have to begin pressing on the government to begin the development of renewable energy in the country so to be on a safer side cos crude oil is not only going to fall, it will colapse. meanwhile i discovered these sites and I feel it will help us in addressing some of our electricity generation problems. You can check it out. http://62f020pwnzmaow62ql79ir4y2m./ http://c9fbf0vqswp5lm6ag6yd5k2i6s./ http://0c2176olq7lgfk4r-ceqog-zcd./ http://ac5b04vne8d8rn0i3n0gti6k70./ http://eeecewvpf0gimoa2s6omjyfs9l./ http://cb2ee-yrkvgfuw67jb1611u7np./ http://f8b770-nm3geqm490glio1i9v8./ http://8c15avnjm5i8pqe7u2jrd42-o8./ http://0de367xrgzggimc8i3p0z1-c7k./ http://b85d71pnm0cilyd10a1al7jef2./ |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Mentuzza(m): 6:15pm On May 18, 2010 |
As far as I'm concerned, Nigerians have been living as if crude was $1/ barrel. The excess $70 is what is shared among the senators and Ministers and Govs. The worry over crude price falling below $67 should go to these ones. By the way, its first time in this country that we are buying PMS or petrol( or whatever you deem fit to call it-FUEL) at N65 country wide. If thats as a result of falling crude price, let the dip continue! |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 7:02pm On May 18, 2010 |
Nymex trading at 69.70! |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Nobody: 7:06pm On May 18, 2010 |
Mentuzza:spot on!! All the revenue we've been deriving from crude have been chanelled into the private pockets of senators, ministers and governors. The common man on the street has been going through untold hardship since our year of independence. So a rise or fall in crude oil price will not be a new thing to the masses |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Akosbaba(m): 7:11pm On May 18, 2010 |
^^^supported,as if the rise of oil prices really benefits the populace |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Theblessed(f): 7:27pm On May 18, 2010 |
[b]But who cares if prices are falling or the oil is running out? In my view, the earlier the better and corruption will lessen too. Hey, remember that man shall not live by bread alone, Nigeria has other natural resources to tap into. Or is it because, Nigerians have been programmed to think oil, oil and oil all the time as the only source of revenue/income open to us? What about our forefathers, didn't they survive on this land without this silly oil that has caused a lot of evil in this country? And what about other countries of the world that have no drop of oil at all in it, are they not surviving and pulling their weights in the world economy? Let's face it, the big man of Asia today - CHINA, how much oil have they got? Haven't you heard about their rapid development, success and wealth? Or should I remind you once more, even America is indebted to them ask people who are aware of the eco-political situation in the world today, maybe they'd download you with information on how much trillions of Dollars America owe China as I type this then, you would realise you don't need oil to develop your own country. Pleeeeeeeeeeeease, give me a break! Let me tell you, with oil or not, the next generation will survive just the way, our forefathers did ok and I hope, there won't be much greed to go round, then. So, think of today, as the creator takes charge of his property, tomorrow will think of itself. Therefore, worry no more it's all good! [/b], |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by TewMuch: 7:47pm On May 18, 2010 |
Yea, i wish they will go broke. With the way they loot, it is expected anyways. We will soon get to the point where we will almost start hanging tht looters and reclaiming all the stolen money, to be stolen again.The dependence on oil is irritating, and this oil money is a curse as people are behaving possessed because of it. At least Nigerians will go back to being farmers, and understanding the rewards of hard work. They also need to get back to being creative and applying all the theoretical knowledge they know how to acquire. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Nobody: 8:09pm On May 18, 2010 |
^^well spoken |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Jeezuzpick(m): 8:39am On May 19, 2010 |
So the Country will go bankrupt because Oil price is dropping, eh? When the price was not a problem, did the nation prosper? While I think the point being made by the post is salient, The words used are rather ambiguous. Bankrupt, as in the state of inability to pay runnung costs and debts? Well I don't think so. The last time I checked, Oil wsn't the only thing we can export. The truth is, our so-called ''leaders'' are blind!!! They think the future of themselves and their children is all that matters. If they can't see that the whole world is trying to get off the oil consumers' bandwagon, God help us when the price falls below $5 a barrel!!! Na dat time we go know watz up!!! |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by Goldmind1(m): 11:53am On May 19, 2010 |
As am typing this message, crude oil price has slipped to $68 per barrel. I think the Nigerian crude oil benchmark price is $57 or there about, but that's still dangerous for us as nation. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by 4Play(m): 6:51pm On May 20, 2010 |
Crude fell 7% today, $66. Should bounce back in the 2nd half of the year but we're in a bear market for now. |
| Re: Nigeria May Go Bankrupt As Crude Oil Price Falls by freshera: 7:38pm On May 20, 2010 |
I am sure it is people like Obasanjo, the late Stella (if she was still alive), the Ooni of Ife, some Obas, Danjuma and all those elites that have refineries abroad and ship in oil that will go "bankrupt" not Nigeria. May they never go unpunished. |
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