Whatever that is good for our economy is welcome

It will be a big boost to the economy of Nigeria if only Nigeria can seize this opportunity to be a key player in gas export alongside other oil and gas products as well as other minerals and natural resources. All these can only happen with good economic policies to encourage investors and financiers alongside market access at local and international levels.

Nigeria is blessed with minerals, gemstones, crude oil, natural gas and others. More can be achieved if good policies, market access, financing and investment in mining sector in Nigeria can be encouraged and sustained for the benefit of the Nigerian economy. Apart from mining, other viable sectors should be given adequate attention. This is indeed a good development.

So china is leading in production of some agricultural products too. China wants to dominate in all sectors.

It's good seeing the mining sector gradually being tapped for economic diversification.

Generally, agriculture in Nigeria is profitable especially when you have access to market i.e local and international agricultural buyers directly or through agricultural marketplace.

Nice gesture from FAO for the seeds and fertilizers for farmers in Nigeria.

If only the money from oil and gas is properly utilized for the good of the masses.

Rather late than never. It's a welcome development for our mining sector. After all, it shouldn't be just tapping our mineral resources but protecting lives and the environment.

The Nigeria mining sector is very promising because there are different types of minerals in Nigeria. We need the right policies to attract investors as well as help miners have access to market.

This is good for Nigeria mining sector. So much still have to be done in attracting more investors for our mineral resources.

Aside oil, the Nigeria gas reserve can contribute significantly to Nigeria power sector and Nigeria economy if given all the necessary attention.

Whether oil prices rise or fall, economic diversification is still the best option for oil producing countries.

Oil and gas marketers that specialize in oil and gas marketing can help source for buyers of Nigeria crude oil. The real deal is having access to reputable and reliable oil and gas companies who are willing to work with oil and gas product marketers simply by making them end sellers mandate.

This is good for Nigeria agricultural sector. Hope they deliver on their promise to attract other farmers in Nigeria who need all the necessary support as well as access to market.

Buying crude oil from Nigeria is good news but there's need for economic diversification.

Then let the legal mining of gold and other minerals in this Kaduna and other Nigerian states begin for export since it will create jobs. Enough of the talk. Start walking the talk instead of being still focused on oil and gas. Economic diversification is the key.

The Nigeria Beyond Oil and Gas we desire is here. All alternative sources of revenue such as agriculture including Nigerian Mining Industry for minerals, gemstones and metals must be explored for a sustainable Nigerian economy. Explore the various minerals in each Nigerian state here: http://www.classify24.com/2015/03/how-nigeria-can-remain-africa-largest-economy-nigeria-beyond-oil/

Economic diversification through what can be termed Nigeria Beyond Oil is what we need through Agriculture, Petrochemical, Mining / Mineral, Gemstone, Metal, Alloy and Energy until Oil and Gas prices hopefully becomes favourable. A diversified economy ensures economic sustainability.

I love this. Hope they effect it to the fullest rather than just saying for saying sake even as we look forward for a Nigeria Beyond Oil.

Oil or no oil, the economic diversification of Nigeria is paramount hence good policies and implementation strategies should be put in place so as to attain a "Nigeria Beyond Oil" economy. This can be achieved by supplementing oil and gas with agriculture, petrochemical, mineral and /or mining, gemstone, metal, alloy and energy like alternative energy or renewable energy. This will help attain a sustainable and financially buoyant economy with zero tolerance for misappropriation of funds. We must think beyond oil because it is a non-renewable resource and so cannot be replenished.

U.S. imports of foreign oil are rising again after a long decline, as the oil bust forces domestic producers to scale back.

Less than a year after the Organization of the Petroleum Exporting Countries opted to continue production despite plummeting prices, member countries including Saudi Arabia and Iraq are clawing back market share they ceded to oil companies pumping in Texas and North Dakota.

U.S. crude imports declined 20% between 2010 and 2014 amid the domestic energy boom but have recently started to rise again. Total crude-oil imports rose for three straight months between April and July, according to the most recently available data from the Energy Information Administration. Imports of light crude grew more rapidly, from 5.6% of total imports in April to 11% in July.

On the Gulf Coast, vessels carrying nearly a week’s worth of imports waited offshore Friday to unload, according to shipping tracker ClipperData.

The slowdown in the nation’s shale-oil output has pushed up the price of high-quality U.S. oil relative to global prices, giving U.S. refiners a reason to buy from countries such as Nigeria. Until very recently, the boom in U.S. shale-oil production forced countries that exported oil to the U.S. to hustle for new customers.

Decreased reliance on foreign crude in the past few years has allowed the U.S. to be more flexible in its foreign policy and given the U.S. more global heft, politicians and analysts have said.

Now, the shifts in oil flows spurred by declining U.S. output show how some of the ripple effects of the shale-oil boom are going into reverse following the plunge in oil prices. U.S. oil producers have sharply cut spending on new drilling, and transportation companies that profited from shipping crude by rail and barge in recent years have seen volumes decline.

“Production declines are taking hold,“ said Gary Ross, head of global oil at consulting firm PIRA Energy Group. “There is no surplus” of the type of crude oil extracted from shale-rock formations. ”Light, sweet" crude, such as that produced from shale, is historically prized because it is easier to process into large amounts of gasoline and other fuels.

Globally, the glut of crude oil that sent prices tumbling last year still persists, and benchmark oil and gasoline prices remain near six-year lows. Falling U.S. output is unlikely to have an immediate impact on prices, because other countries are still pumping at high rates and Iran is expected to increase production in the coming months.

In the U.S., however, the adjustments have been swift. U.S. crude production has fallen to about 9 million barrels a day from a 43-year peak of 9.6 million barrels a day in April and is forecast to keep declining.

“There’s just not enough light barrels to go around today,” said Adam Bedard, chief executive of ARB Midstream, a shipping and trading company in Denver.

Still, the U.S. is importing less than eight million barrels of crude a day, down from 9.2 million daily barrels on average in 2010. The rate of imports could also decline at the end of the year, as refiners draw down on inventories to avoid higher taxes.

But at the moment, the surge in imports continues to surprise. Total U.S. crude imports rose 156,000 barrels a day in the week ended Oct. 16, helping push the combined stockpiles of crude oil and refined products to a weekly all-time high.

The East Coast is one place where the pricing battle is being fought between domestic and foreign oil, said David St. Amand, president of maritime consulting firm Navigistics Consulting. Refiners that were willing to pay high transportation costs in recent years to ship domestic crude oil by rail and by barge are now finding it cheaper to import.

Crude imports to the East Coast shot up to 883,000 barrels a day in the week ended Oct. 16, up more than threefold from the prior week and the highest volume since early August, when U.S. oil demand tends to be seasonally high, according to the EIA.

Delta Air Lines Inc.’s refinery in Trainer, Pa., imported Nigerian crude in July, according to the EIA, the first time that refinery has done so since September 2014. Monroe Energy LLC, Delta’s refining unit, declined to comment. After falling to zero in July 2014 and hovering at low levels since, shipments of crude from Nigeria to the U.S. rose to 106,000 barrels a day in July 2015.

The price of U.S. oil has started to draw close to the price of Brent, the global benchmark. That attracts more crude to the U.S. and indicates that imports can continue to rise.

With the gap between U.S. and international prices so narrow, refiners would “rather just start importing a more high-quality barrel instead,” said Dominic Haywood, oil analyst at Energy Aspects. “There’s a lot of imports on the way.”

At $44.60 a barrel, the U.S. benchmark, known as West Texas Intermediate, costs $3.39 a barrel less than the global benchmark, Brent crude. In the past four years, WTI’s discount to Brent was about $10 a barrel.

WTI could trade above Brent in 2016 as U.S. production continues to decline and gasoline demand remains strong, according to analysts at Bank of America Merrill Lynch.

When U.S. output was rapidly growing in recent years, producers were forced to heavily discount their barrels to persuade refiners to buy domestic crude. U.S. refiners that were built to process foreign crudes, especially on the Gulf Coast, used more U.S. oil once it became significantly cheaper. But some types of shale oil caused problems for refiners.

In the first half of October, crude-oil imports to the Gulf Coast were 60,000 barrels a day higher than a year ago, according to ClipperData. The displacement [of imports] that we saw in 2013 and 2014 is definitely over,” said Abudi Zein, ClipperData’s chief operating officer.

Source: http://www.wsj.com/articles/after-years-of-decline-u-s-oil-imports-rise-1445851800

Our success as a nation boils down to Nigeria Beyond Oil- diversifying and boosting other sectors like Agriculture, Mining (Minerals, Gemstones, Metals), Manufacturing and Services.

Despite this colossal amount derived from crude oil with little or nothing to show for it in terms of basic infrastructural development I am still a proponent of Nigeria Beyond Oil before this oil dries up since it is a nonrenewable resource.

Sometimes I keep wondering why all attention is just on the Oil and Gas for revenue when Agriculture and Minerals are not yet fully exploited. Not until Nigeria think Beyond Oil and Gas with zero tolerance for corruption at all levels of government we are not going anywhere.

Good so long those looters are probed without fear or favour ensuring that every loot recovered from them are judiciously used for the betterment of Nigeria and those to be appointed to run the the Oil and Gas industry have clean hands.

Good news for Nigeria Beyond Oil- diversification to other Nigerian Mineral Resources besides Oil and Gas to Agriculture, Petrochemicals, Minerals, Gemstones, Metals and Alloys is the key. But hope the mining activities are properly regulated and monitored to avoid malpractices in the Nigerian Mining Industry so it won't be like the questionable sharp practices in the Nigerian Oil and Gas Industry. http://www.classify24.com/how-nigeria-can-remain-africa-largest-economy-nigeria-beyond-oil

Nigerians are tired of these stories in the oil and gas sector. The Nigeria oil and gas industry should be overhauled and the present government should think beyond oil with much attention to agriculture, minerals, gemstones and metals and of course manufacturing as well as services that can contribute significantly to our economy if harnessed optimally and the proceeds used judiciously.

If removing it is the solution in the oil and gas industry then let it be done. Enough of these fuel scarcity and subsidy fraud that benefits the unpatriotic and selfish oil cabals

Nothing good comes easy. Just as it is in every other business, agriculture can be profitable if you do the right things at the right time and selling at right price using the rigth agricultural marketplace to find buyers and sellers of agricultural products, agricultural machinery, agricultural equipment or even agricultural services and agricultural services.

The opportunities in agriculture are much and very profitable if you know the right aspect to focus on and find a reliable agricultural marketplace to find buyers, sellers, importers or exporters of agricultural products, agricultural machinery and agricultural equipment as well finding or providing agricultural services or agricultural jobs.

Good news for Nigeria and Africa.