Killerofpigs:
Poor Country..??

Why do appointees of APC always look for similar failures to justify their shamelessness?
Why can't you envision and work towards being like great economies?

Why compare yourself with a NON oil producing Country like Kenya. ? Why not compare yourself with fellow OPEc members like UAE?

After all the sponsored protest and NADECO scam. The whole world has seen the pathetic way South West Region is administered.

TINUBU represents the best of SW and he is worthless.

Very shameless and pathetic.

Why is hate eating you up like this?. If you have anything against his analysis of the economic value of Nigeria, while not go online and educate yourself rather than this stupid generalization of a region in the country just because your candidate lost an election. Tinubu is your president today whether you like it or not, so suck on that while you take a lesson on ethnical respect.

Poor country with rich politicians

Killerofpigs:
If that is the case..Then why compare yourself to other countries??

Why not do what is obviously right, without being foolishly mischievous?

Useless charlatan..

It is hopeless engaging you, seeing how you drift!
You read the write up, raised a comparative context.
We ask you to conclude the comparison, so we see your point, you started running around like a headless chicken.
Ezuru! Abeg stick to your Ilk, I no get energy!

olisaEze:
A country with...large tracts of very fertile arable lands, perfect weather...

^^^
The general point you (and others) are making is valid and duly noted. But there are some assertions commonly made about this country that are inaccurate, to put it mildly.

In reality, most of Nigeria's soil is low fertility or low productivity soil. Over 60% of the country's soils fall into the very low productivity to low productivity brackets. All the talk about Nigeria's fertile land is to put it bluntly, a myth.

Nigeria's weather is also...not quite perfect. It varies widely (from the hot, highly humid weather of most of Southern Nigeria) to the very hot, relatively lower humidity of large parts of Northern Nigeria. The high humidity and searing heat do eventually take their toll on people, livestock and even machines.

I just lack the right curse suitable for these breed of thieves, they know themselves before they say I insult person papa.

STEWpid:
Chai..




Let the poor breathe, but there are billions of dollars in their individual accounts.

This picture is hilarious

Killerofpigs:
Poor Country..??

Why do appointees of APC always look for similar failures to justify their shamelessness?
Why can't you envision and work towards being like great economies?

Why compare yourself with a NON oil producing Country like Kenya. ? Why not compare yourself with fellow OPEc members like UAE?

After all the sponsored protest and NADECO scam. The whole world has seen the pathetic way South West Region is administered.

TINUBU represents the best of SW and he is worthless.

Very shameless and pathetic.

Can you read at all?

Killerofpigs:
Poor Country..??

Why do appointees of APC always look for similar failures to justify their shamelessness?
Why can't you envision and work towards being like great economies?

Why compare yourself with a NON oil producing Country like Kenya. ? Why not compare yourself with fellow OPEc members like UAE?

After all the sponsored protest and NADECO scam. The whole world has seen the pathetic way South West Region is administered.

TINUBU represents the best of SW and he is worthless.

Very shameless and pathetic.

the bolded line is my bone of contention with our leaders, always having a reason to fail, not just that also justifying failure.

mrvitalis:


You assumed crude oil was 89 dollars fine
89-27 = 62 dollars per barrel profit

Nigerians owns 55% or that profit... So Nigeria entitled profit = 0.55x62 =34.1 dollars

Nigerian produce 1.3 million barrels per day

So Nigerians earning yearly should be

1,300,000 x365x34. 1 =16.18 billion dollars

We also get to tax the oil companies profit... Say that brings 2 billion dollars

Yearly oil revenue is 18 billion dollars max

This is why I always say oil industry is nothing

It is not nothing though.. it is like everything we have.
However, truly Nigeria in revenue terms is too poor compared to the population size... Even Angola, Algeria are richer (oil$ revenue/person).. For other context saudi arabia produces ×10 the oil we produce with much lower cost and a fifth of our population.


A serious govt ought to aggressively work on increasing export revenues (oil, mining or agric) and also encourage production activities leading to import substitution

crazygod:
I have noticed that the owner of this site or forum or whatever you want to call it loves anything that's tribalistic. What's hard in censoring anyone that starts insulting other tribes irrespective of the topic on ground? It's like he loves it when different tribes have at it.

Funny thing is, sometimes when i respond in kind or put forward a argument that exposes the hypocrisy and bigotry of the fool i’m responding to, all of a sudden the autobot kicks in and my post is ‘miraculously’ deleted while i’m ‘conveniently’ banned from the politics section for 24hrs! Job done…..they’ve silenced the ‘okoro’, and can carry on with the ethnic-baiting and bigotry! Meanwhile, the hordes of bigots and other fools on the thread are given free rein in the thread to continue with their favourite pastime!

mrvitalis:

Bros thats not how oil revenue is calculated

Firstly you remove the cost of production which is around 27 dollars

Then federal government only gets 55% of the remaining revenue

So yes from a 75 dollars we make less than 30 dollars

wat abt taxes dey collect ?

Fujiyama:


^^^
The general point you (and others) are making is valid and duly noted. But there are some assertions commonly made about this country that are inaccurate, to put it mildly.

Most of Nigeria's soil is low fertility or low productivity soil. Over 60% of the country's soils fall into the very low productivity to low productivity brackets. All the talk about Nigeria's fertile land is to put it bluntly, a myth.

Are you insane!! A country described as rich by its colonialists with an economy that was dependent solely on agriculture before the oil boom?? A simple test of soil fertility is the presence of earthworms. Where in Nigeria is this organism not found??

treesun:


https://dailytrust.com/nigeria-a-poor-country-presidential-committee/

"And of course, it’s even less than the budget of New York City, not even just New York State"


Chai!

being:

It is not nothing though.. it is like everything we have.
However, truly Nigeria in revenue terms is too poor compared to the population size... Even Angola, Algeria are richer (oil$ revenue/person).. For other context saudi arabia produces ×10 the oil we produce with much lower cost and a fifth of our population.


A serious govt ought to aggressively work on increasing export revenues (oil, mining or agric) and also encourage production activities leading to import substitution

Housing tax can give us more than that but government knows Taxing would unite Nigerians against them

If Nigeria can combine all the looted and embezzled money from this country our budget will surpass that of britain and USA combined

Ojuntana:

Oil companies earning also pass through CBN?

You already explained away $37bn in your previous post. What are you looking to explain again?

Nigeria and FG are not the same

People thing they are

mrvitalis:

Nigeria and FG are not the same

People thing they are

What's the relevance of that to oil revenue

Nigeria is never a poor country but a corrupt country, we have all it takes to compete with China and India even in tech only if Nigeria can develop its tech industry starting from providing at least 24hrs electricity in all the major cities in each Geo political zones then upscale Aba made.
But a country without 24hrs electricity is poorer than a village toilet

mrvitalis:


You assumed crude oil was 89 dollars fine
89-27 = 62 dollars per barrel profit

Nigerians owns 55% or that profit... So Nigeria entitled profit = 0.55x62 =34.1 dollars

Nigerian produce 1.3 million barrels per day

So Nigerians earning yearly should be

1,300,000 x365x34. 1 =16.18 billion dollars

We also get to tax the oil companies profit... Say that brings 2 billion dollars

Yearly oil revenue is 18 billion dollars max

This is why I always say oil industry is nothing

oil industry is something. Dangote built his monster for $19B.
If invested, oil income is huge, if wasted it is indeed nothing. In fact all the wealth in the world is nothing is used the way Nigerian govt use wealth. Even smaller countries without oil who invested are reaping massively. Not ours.

Yes, we need to face reality and get serious to grow our economy.

Our combined budget for federal and state is less than that of New York city alone.

Also, some countries that we ignorantly underate are far richer. The state of Sao Paulo in Brazil has a budget of $60b which is twice the size of Nigeria's budget plus all our states combined.

ComeToJesus:


"And of course, it’s even less than the budget of New York City, not even just New York State"


Chai!

Nigeria is not poor by resources value.


The SE alone has so much gas, that at a certain depth, gas is so excessive that e dey cover other mineral resources. Right after the civil war, the enemies sold rights to experts, Those experts did numerous underground pipings around and inland the SE. Some correct people are researching to see if these illegal gas extractions, are inadvertently causing some erosions in the SE.


The SE alone has more gas and more oil than the mostly official oil and gas in the so called SS. They don't want to tell igbos that, in order to psychologically depress the great igbo tribe. But the truth has prevailed.

Gowon didn't know the extent of the oil and gas in the SE, it was Buhari and Babangida, that benefitted from what murtala and Oga Obj explored. It was the best kept secret. Unofficial oil and gas for individuals. If you notice, ibb tine had new and more rich with no work people. The people that couldn't break in the circle of oil well or gas space partners with foreigners, began civil servant corruption and 419 letterhead corruption. Everyday new ripe spot for pipe burying for gas, or oil well - new oil and gas find.


Even the resources in the so called SS, are on most times on igbo side or near igbo side. The igbos have been blessed. To even make it sweeter, our neighbors are blessed. Our resources and Congolese resources, are what china is using to form electronic, electrical, and infrastructure experts. With all our resources, we have been reduced to beggars. And those leeching tribes have been feeding fat on our resources, all they do is take a handful igbos, and make them very rich, with a few oil and gas wells.


The Nigerian leaders don't know anything, or anything technical, so, before they liked to take upfront money, and maybe 5 to higher percent for wells.
Now, the corrupt officials still take upfront money, which the foreigners don't like to do anymore, if they can avoid it, due to insecurity, and for gas - they can do underground piping to submarine, or surface specialty ship with unique piping configurations.


with the knowledge of liquified gas, they are doing their thing.

The world is not playing around, and the Nigerian leeches are not playing, they have everything to loose. If these blessed lands were theirs, they would have been very impatient with diplomacy.

Shikena:
Yes, we need to face reality and get serious to grow our economy.

Our combined budget for federal and state is less than that of New York city alone.

Also, some countries that we ignorantly underate are far richer. The state of Sao Paulo in Brazil has a budget of $60b which is twice the size of Nigeria's budget plus all our states combined.

before these monsters got power it was much, now they have power, we are poor.
Truth is we are rich enough to invest in necessities and not the wastage we have in mind as prosperity.

Even if we all decide to work and have 60B usd like sao paolo, can govt support the masses with the infrastructure needed? At the rate we are going, we may need to spend 100T usd on infrastructure before we can support economic activities that will give us 60B usd .

See evasive maneuvers..

you guys are just plain foolish...

Buccalcavity2:

It is hopeless engaging you, seeing how you drift!
You read the write up, raised a comparative context.
We ask you to conclude the comparison, so we see your point, you started running around like a headless chicken.
Ezuru! Abeg stick to your Ilk, I no get energy!

if i tell you now, that i dont give a darn about useless elections, you will claim tribe abi??

worthless failures

zoghys:



Why is hate eating you up like this?. If you have anything against his analysis of the economic value of Nigeria, while not go online and educate yourself rather than this stupid generalization of a region in the country just because your candidate lost an election. Tinubu is your president today whether you like it or not, so suck on that while you take a lesson on ethnical respect.

When sophisticated illiterates talk ..its obvious.

you are empty

MICHEALADEX:



Werey so you call South Africa failure or New Jersey

Poor country yet your Legislooters earns more than USA and SA's lawmakers combined

Nigeria a poor country, yet you want to buy two new jets for the President even we have about six jets on his fleet. Even Tinubu already had a PJ that Presidents of other nations hires.

Poor country that caters for only the politicians at the expense of the masses

Poor country where the NNPC makes over a $100B in oil revenue yearly but under-remits a paltry 10% of that while the rest are stolen

we are not serious in this Country

Killerofpigs:
Poor Country..??

Why do appointees of APC always look for similar failures to justify their shamelessness?
Why can't you envision and work towards being like great economies?

Why compare yourself with a NON oil producing Country like Kenya. ? Why not compare yourself with fellow OPEc members like UAE?

After all the sponsored protest and NADECO scam. The whole world has seen the pathetic way South West Region is administered.

TINUBU represents the best of SW and he is worthless.

Very shameless and pathetic.

Some of you are just senseless, TINUBU is your nightmare..My friend you still have almost 7 years of shedding tears...

Keep shouting

Ojuntana:

What's the relevance of that to oil revenue

Oil Nigerians oil earnings and fg oil revenue are not the same

mrvitalis:

Oil Nigerians oil earnings and fg oil revenue are not the same

What is the relevance of that to oil revenue

Davido and Chioma Spotted at BET Experience in Los Angeles after Wedding (video)


Watch video

https://www.youtube.com/watch?v=MHLPldmvMHM

Totally different topic.

Before the current monsters got in power what stopped the previous monsters from building the needed infrastructure? Obasanjo’s 8 years saw $16b wasted on a project to solve our power problem but nothing to show. They are all the same, most of them just changed parties.

RepoMan007:
before these monsters got power it was much, now they have power, we are poor.
Truth is we are rich enough to invest in necessities and not the wastage we have in mind as prosperity.

Even if we all decide to work and have 60B usd like sao paolo, can govt support the masses with the infrastructure needed? At the rate we are going, we may need to spend 100T usd on infrastructure before we can support economic activities that will give us 60B usd .