sulaak:
The OPEC Plus agreement between Saudi Arabia and Russia was bound to fail, due to the overproduction of US Shale oil and now with oil racing toward a low of $25 per barrel only low production countries in the middle east can make a profit from oil export, for Nigeria, the failure to diversify its economy is now looking like a disaster.

How will Nigeria generate $5-10 billion per annum to service its debt? Maybe, Nigeria should consider cancelling the planned $22 billion loan immediately and focus on a debt restructuring programme for the remaining $90 billion.

Cancel which loan, money that has been shared already

Persons to benefit from the loan have submitted their numerous fraud alert account details already, i'm guessing you're not going to get a cut from the loan, I won't either

SenecaTheYonger:
Oil price fall is good for the US economy but bad for countries like Nigeria whose economy runs on oil export.

good for US economy? Watch their stock market fall today

Sunnycliff:


I for say make them sell Nigeria and share the money to everyone. Even if say na #1k I get, I no go complain

And you think Nigeria hasn't been sold off already, you and I were never in the sharing formula

Las Las we go learn by force, very soon we would start doing the right thing, which is, burn those polythievescians alive

CXLVII:
Informative threads like this will hardly grace front page.

Just add snake or Regina Daniels to the story and swiftly it will race to front page.

This forum is years behind Quora.

You are right...Our youths are brain dead

CanadaOrBust:


Google is you friend.

Lol, this just keeps getting better. At around 2016, most new source lost credibility.

georgeiyke009:


And also cut cost of governance. Even the money was expected from China and I not sure they would be giving anyone any money anytime soon. The only thing is to cut spending

Oga, cut which government spending ohh, remember bubu or one other person was saying some days back that they're working hard so their money needs to be increased

Bubu needs to fly around more, his daughter still has plenty projects for her school so we need to fuel the presidential fleet so her trips would be not as stressful as the last trip she went on

Then instead of brand new Toyotas and benzes they buy for official duties, they need rolls royces (phantoms and cullinans) to portray them in the good light more and reward them for their hard work in running the affairs of the country

arsenal33:
good for US economy? Watch their stock market fall today

The only thing that will affect their stocks is coronavirus because they heavily trade with China who has been hit and forced to lockdown.

Unlimited22:

Are you aware the United States also produces and sells oil?

Yes. But what do you understand by an oil-based economy?

CanadaOrBust:


Google is you friend.

You know that Russia is one of the top oil-dependant economies in the world, why would they shoot themselves in the foot?

RapistOnBail:
No! Don't wait for Government to provide you a good life. Work for it.

The governments responsibility is to create Peace and harmony in the country. This leads to a favorable market sphere for both local and foreign investors.

Nigerians want to be spoon fed by the Government

Lazy human beings

And where is the peace or the harmony under this regime?

DAVE5:


Cancel which loan, money that has been shared already

Persons to benefit from the loan have submitted their numerous fraud alert account details already, i'm guessing you're not going to get a cut from the loan, I won't either

Cheif the loans have only been agreed, it remains for the government to request the loans from the lending organisation and I can bet no agency will be approving any loan to Nigeria with oil selling at $30 per barrel.

sulaak:

Cheif the loans have only been agreed, it remains for the government to request the loans from the lending organisation and I can bet no agency will be approving any loan to Nigeria with oil selling at $30 per barrel.

Trust our government to get the loans either by hook or crook, then the sharing would commence

The sharing formula can not be omitted ohh

SenecaTheYonger:




You know that Russia is one of the top oil-dependant economies in the world, why would they shoot themselves in the foot?

Well

angelfallz:

i get you, but it is us the common people that would suffer before that blessing is realised.

You are already suffering, do you actually think you benefit from the oil export. The government has refused to function because of the sharing of oil wealth.
Why should someone living in Lagos or Kano be interested in the oil export price? The country will now be forced to diversify or die.


Necessity is the mother of invention: When the need for something becomes essential, you are forced to find ways of getting or achieving it.

Timileyin1234:
olasco2035 look for another iOS devices and open iCloud there, u will now use it to sign in ur device. One idiot ban me there

Apple doesn’t allow more than 3 iCloud creation on a device

Ok thankx bro

RapistOnBail:
No! Don't wait for Government to provide you a good life. Work for it.

The governments responsibility is to create Peace and harmony in the country. This leads to a favorable market sphere for both local and foreign investors.

Nigerians want to be spoon fed by the Government

Lazy human beings

To be honest with yourself which Nigeria govt have done well with what u listed above. Govt job is to regulate and drive fiscal policy to stimulate economic growth and development while the citizen job is to fit into different sector (formal and informal to make ends meet to cater for daily food and shelter either jobs or business. Nigeria govt over the years have failed on that line the infrastructural deficit alone can't be fix in 5yrs ease of doing business here Na die , mulitple taxes left right and centre ,power is another issue how can a country grow without power due to decades of neglect in that sector

RapistOnBail:
Have you heard something like " There's always an opportunity in disguise from every Bad Situation? "

Good day!

So, this is what you have to come up with after your argument of govt providing peace and security was rubbished?

SMH

SenecaTheYonger:


Yeah, the mortuary business in the North must be booming right now. Such a morbid mindset.

That guy's argument and thinking is pathetic.

CanadaOrBust:


You listen here. US loses more actual dollars than any other country when oil price falls. What u said is that it is good for US economy. Of course it affects Nigeria more but there’d be more bankruptcies in US

LOL.

If low oil price will send US to recession, then Nigeria will cease to exist before then.

CanadaOrBust:


Google is you friend.

You are right. Saudi Arabia and Russia are doing the pricing war and increase in oil production to knock down oil prices and hit hard at US fracking/shale.

US shale has made US the highest oil producer. But the cost of producing Shale oil is higher than OPEC oil.
Oil prices has to be high for it to be lucrative.

So what Russia and the Saudis are doing is drive down prices. US shale will be driven out of business.

Before they recover it will take another 3 to 4 years.

CanadaOrBust:


Ignorance. It HURTS US economy! U can argue it hurts Nigerian economy more

What happened in the U.S economy wen the price of crude oil fell to 26 dollar or barrel?

$33... Instead of the law makers to think outside the box... they are having meeting to amend or abi restrict information on the internet...

Hand never touch una yet....
Dont you worry!!..

SenecaTheYonger:


Yes. But what do you understand by an oil-based economy?

I know that the fall shouldn't be enough to drive the US economy into a recession, bit suggesting that they'll welcome it is frankly absurd.

Unlimited22:

I know that the fall shouldn't be enough to drive the US economy into a recession, bit suggesting that they'll welcome it is frankly absurd.

Agreed

0m0nnakoda:

The currency will devalue.
Our dollar denominated debt position is precarious.
We may struggle to service debts and to pay for imports.
I expect to see very significant devaluation in the coming months possibly 800 naira for a dollar

I will go into forex soon, let me start hoarding the dollar

Ausrichie:

I know but is it not stupid that your country would be borrowing money for rubbish, just to loot borrowed funds. Think am. When it comes to repaying the borrowed loot both the business class, the working class and the lower classes would suffer it bet me now. This rubbish increase in tax is killing somebody data no dey last again, power supply worse than before, lack of water supply (some states don't even have a water system), this is the government's JoB. Abeg I hope this MIT shit I wan do go click, Africans disgust me in general with their happy being oppressed mentality.

Don"t mind the fools.
We even have one dimwit here , Rossinnki, even celebrating and bragging about who should not get a piece of the foreign loan.
Can you just imagine ?
A fool, obviously suffering from acute stockholm's syndrome, celebrating and bragging about the debt enslavement of himself and his generations of children.

RapistOnBail:
No! Don't wait for Government to provide you a good life. Work for it.

The governments responsibility is to create Peace and harmony in the country. This leads to a favorable market sphere for both local and foreign investors.

Nigerians want to be spoon fed by the Government

Lazy human beings

So Nigerians are asking to be spoonfed?

Lending rate is 25%, power supply is epileptic, Apapa ports are a nightmare for importers, the government has shut the borders, more goods are being banned and you say Nigerians are expecting to be spoonfed?

People are trying to find one means or the other to survive such as Okada's and tuktuks and government's are banning them left right and center.

The economy is barely growing 2% per Annum. No matter how hard Nigerians try, the forces against progress even with their best efforts is challenging.

Nigerians aren't asking to be spoonfed. On the contrary, they ask for too little but this government policy is always putting them down.

Look at car importation. A once thriving sector and government slams a 70% import duty on it. They have now turned many into smugglers.