Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years - Business (2)

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Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years (7557 Views)

Nigeria’s Crude Output Falling Below Expectation – Vetiva / OPEC: Nigeria Regains Africa Top Spot As Oil Production Rises By 47,000 BPD / OPEC Pegs Nigeria’s Oil Output At 1.8 Million Bpd (2) (3) (4)

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Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by tolue42(m): 9:53am On Jan 08

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

How old are you??

4 Likes

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Vuvuzela2: 9:53am On Jan 08

Wickedfacts:

You will see the good of the land but your mouth will not taste it.

so that you can loot everything like your most corrupt Agbado master, the mandate thief. God no dey reason criminals prayer.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Jorussia(m): 9:54am On Jan 08

seguntijan:
With the benefit of hindsight, Tinubu was right to have said ‘Subsidy is gone’ on the first day in office. These northern elder guys would have foot dragged till now if he was negotiating and waiting for the best time to remove it.
Nigeria needs aggressiveness towards economic development!

I was among those that initially thought he should have settled down before making that announcement.However,with recent events I have come to the conclusion that dangote refinery won't have commenced operation and NNPC won't become serious as they are now about their refineries.

4 Likes 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Jorussia(m): 10:02am On Jan 08

hopedey:

They should allow it to reflect before making noise about it .

Are they the one making noise about it? didn't u see it's business day(a known PDP paper) that is quoting OPEC? Most of u here don't know it's the mismanagement of our petroleum industry in the last two years of PMB that is the reason for our current economic woes.The investments in the last one year in our crude production is the highest in over 25years.At present we need around 2.5m barrels per day production to meet both our local and export demands.

1 Like 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Orissodiq: 10:04am On Jan 08

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

U can ly.... Show us where Nigeria produces 20m BPD under Obasanjo, Yar'Adua and d rest? support ur claim with fact

Saudi self na around 11bpd dem dey
USA is on 20bpd
And Russia on around 10bpd.

2 Likes 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Blitzking: 10:05am On Jan 08

Yet they want to use tax suffocate the masses.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by solreb: 10:06am On Jan 08

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

Where did you get your stats from?. The highest Nigeria had done was 2m bpd under OBJ

2 Likes 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by realguyremzy: 10:06am On Jan 08

Nigeria highest oil output ever was about 2.5m bpd in 2010

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

1 Like 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Bosman17: 10:07am On Jan 08

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

30m bpd 😆😆😆 where they wan store am🤣🤣 small small abeg🙏🏻🙏🏻🙏🏻

1 Like 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by kayperry: 10:10am On Jan 08

Jorussia:
something just crossed the milestone about 3 weeks ago and you just expect to see the effects on the economy immediately?

You think you have a point, project a timeframe and lets see

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Ringstonermasks: 10:13am On Jan 08

d citizens are not feeling the impact

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by sulaak(m): 10:17am On Jan 08

AntiChristian:

"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more!

What did Buhari do

2 Likes 2 Shares

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by kayperry: 10:18am On Jan 08

FitCorper:
To all the dullards who can’t read and understand due to hate, it states that “Nigeria surpassed 1.5meter bpd for the first time in 4 years” so in “history”. Wether you hate Jagaban or love him, u can’t deny Nigeria is taking a step in the right direction. “We must first destroy before we build”

which one be 1st time in 4 years, it means even dullard Buhari achieved it, the fact remains we are not doing things differently
and you cant keep doing things the same way and anticipate different result,

1 Like 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Celestialsword: 10:20am On Jan 08

The result of the good job tantica security is doing.kudos to High Chief Government Ekpemikpolo alias Tompolo

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by anonimi: 10:22am On Jan 08

9jatriot:
There is a reason why Tinubu is seen as an achiever, he knows how to focus on what is important.

He does not play to the gallery or goes galavanting all over the place just to shoot photographs,

If he an achiever who is not playing to the gallery, please why has he failed to get the N300/$1 short term promise before getting his N200/$1 goal of May 2027. It is 20 months already since he hit the ground running.

Would that not have made him crash the price of petrol as promised instead of the high price and increasing poverty despite borrowing recklessly as he is doing in Lagos with his progreThief master plan

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate[

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

1 Like 2 Shares

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:35am On Jan 08

sulaak:

What did Buhari do

Buhari reached 1000 million bpd.

All na irony!

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:37am On Jan 08

Bosman17:

30m bpd 😆😆😆 where they wan store am🤣🤣 small small abeg🙏🏻🙏🏻🙏🏻

Thank God say you sabi say na irony i apply!

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:38am On Jan 08

realguyremzy:
Nigeria highest oil output ever was about 2.5m bpd in 2010

Na irony i dey apply o!

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by qtx(m): 10:38am On Jan 08

AmazingGenius:

Source: https://businessday.ng/energy/article/nigeria-surpasses-1-5mbpd-crude-output-first-time-in-4-years/

This is online Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years . Until I drive into a fuel station and buy petrol for less, I am tired of online and tv improvements that don't translate to tangible or physical results. I'm not that daft or brainwashed lke some people here. I try to use common sense. am waiting... this is 2025.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:38am On Jan 08

solreb:

Where did you get your stats from?. The highest Nigeria had done was 2m bpd under OBJ

Parts of speech - Irony!

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:39am On Jan 08

Orissodiq:

U can ly.... Show us where Nigeria produces 20m BPD under Obasanjo, Yar'Adua and d rest? support ur claim with fact

Saudi self na around 11bpd dem dey
USA is on 20bpd
And Russia on around 10bpd.

Irony no be lie o!

You can easily detect the exaggerations na!

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by QuestLINKsPrpty(f): 10:40am On Jan 08

waveman2:
Ok this is the production capacity NNPCL and oil companies make us to believe while at the Christmas tree we should be producing about 6 million barrel per day.Nigeria oh my country.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by AntiChristian: 10:40am On Jan 08

tolue42:

How old are you??

How does not matter but how sane are you?

Irony is the expression of one's meaning by using language that normally signifies the opposite, typically for humorous or emphatic effect.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by 9jatriot(m): 10:49am On Jan 08

USD is now 1500, that means if you export an item for $1k at an exchange rate of 1500, you already 1.5 million naira, so try and be an exporter and be happy with the present exchange rate

anonimi:

If he an achiever who is not playing to the gallery, please why has he failed to get the N300/$1 short term promise before getting his N200/$1 goal of May 2027. It is 20 months already since he hit the ground running.

Would that not have made him crash the price of petrol as promised instead of the high price and increasing poverty despite borrowing recklessly as he is doing in Lagos with his progreThief master plan

2 Likes 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by nairalanda1(m): 10:52am On Jan 08

oz4real83:
This is supposed to be good news to everybody, unfortunately, it won't reflect on the standard of living of Nigerians, the money goes into the pockets of a few while the majority keep suffering

The thing is, and this is not me defending any useless government, Nigeria cannot survive on even 4million bpd which is what tinubu wants to get us to.

For Nigeria to be as rich as Saudi...we would have to reach as much as 40 Million bpd or more, all other condtions equal. And it may not be enough.

That is why we need an economy that produces a variety for export...especially industrial exports.

1 Like

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by nairalanda1(m): 10:52am On Jan 08

9jatriot:
There is a reason why Tinubu is seen as an achiever, he knows how to focus on what is important.

He does not play to the gallery or goes galavanting all over the place just to shoot photographs,

It's not good news. We need to diversify away from oil, not to become more dependent on it.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by Mandate1: 10:53am On Jan 08

plumcomm:
Enemies of Nigeria done like this kind of news.

what is the good news here? Will this translate into cheaper fuel or food for Nigerians?

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by 9jatriot(m): 10:55am On Jan 08

Did you look at the export report of 2024, I think we are already making a lot of progress in that direction.

nairalanda1:

It's not good news. We need to diversify away from oil, not to become more dependent on it.

1 Like

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by plumcomm: 10:56am On Jan 08

Mandate1:
what is the good news here? Will this translate into cheaper fuel or food for Nigerians?

na pertol them Dey take plant rice and beans so e go cause reduction in the price.

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by nairalanda1(m): 10:58am On Jan 08

qtx:

This is online Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years . Until I drive into a fuel station and buy petrol for less, I am tired of online and tv improvements that don't translate to tangible or physical results. I'm not that daft or brainwashed lke some people here. I try to use common sense. am waiting... this is 2025.

You guys should stop hoping for cheaper prices of everything. That is not how life is.

People want to be paid for doing the work they do, and that includes people working in the oil industry. And since subsidy has gone (officially)...that means that wages will now come directly from the money you pay to put oil in your car. Also, the equipment needed to bring you the oil has to be repaired and maintained, and the shareholders...from big man to small man, have to be paid. I haven't even mentioned the banks and their loans.

So, petrol is not going to come down. Infact, because petrol is now controlled by the market regarding pricing, people are rushing to set up refineries here...which is long term good news for our economy, especially jobs and so forth.

Only way petrol can come down is if there is an increase in production , via competiton, or if Dangote finishes paying off his loans. Or if government gives dangote a huge tax break .

Subsides over the years were never enough to give us cheap fuel...which is why we were borrowing to pay them eventually. And people like GEJ saw the light in 2012, but tinubu and buhari led Nigerians to unwisely say no. Until the debt rising eventually forced their hand in 2023.

If you want subsides, you do as they do in saner climes and donate half your annule income to the government as tax. Yes, that is how they do it in saner climes. And the subsides do not even go to everyone...it goes to the poorest of the poor. Not to every tom, dick and harry.

3 Likes 1 Share

Re: Nigeria Surpasses 1.5 Million BPD Crude Output, First Time In 4 Years by nairalanda1(m): 11:03am On Jan 08

9jatriot:
Did you look at the export report of 2024, I think we are already making a lot of progress in that direction.

No, we are not.

The thing is, non-oil exports are still around where they were before APC. A minority of exports. More needs to be done.

Not yet uhuru. And your party has been in power for almost ten years.

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