zendi:
The Global price for crude oil is the same both Globally and going into US Refineries. If the crude price going into US Refineries drops, the price of gasoline out of the Refineries will drop, and the Pump price going into Voter's fuel tanks will drop and the Voters will be happy with the President. This is one of the dearest agendas of US Presidents historically-making Voters to fill their gas tanks (fuel tanks) cheaply.
And you know what that does to the political fortunes of the President and his Party.

America is not a Commodity dependent nation, so the effect of price drop on oil companies is not what the President worries about. The oil companies just pay their corporate and income taxes like other industries and that is that.

If price drops to a level that an Oil Company can no longer produce profitably, they just dismantle their rigs and go away.
But the President wants crude oil selling at $40 or lower.

Eexception was the confused, climate obsessing far left Biden regime who were looking for cheap oil in the tradition of other past Presidents, but at the same time cracking down on fossil fuel production "to save the planet".

Streetinvestor2:
Oga I am sorry you don't have idea of what you are talking. The low price of oil does not favour American oil companies. Go check the cost of production of sehel oil and the cost of production by opec companies. For Americans oil companies to still remain in business they need oil price to remain high.
The opec countries rather uses low price of crude to close Americans oil production which they have done in the past.It is only countries like nigeria that are not efficient that low oil affects.
Your initial post was about the companies into oil production and not about Refineries. My question and comments is about companies into oil production

Street, take this from me: American governments traditionally cared more about the public enjoying cheap gasoline (petrol) than about Oil Companies remaining in business.

Before the invention of the Shale Industry, US Govts used to pressure Saudi Arabia to boost production to bring price down.
I repeat, to bring price down to please consumers, not to hike price to help Oil Companies.

Agbalowomeri:


Prof you don open stockbroking firm

No Boss

zendi:

Street, take this from me: American governments traditionally cared more about the public enjoying cheap gasoline (petrol) than about Oil Companies remaining in business.

Before the invention of the Shale Industry, US Govts used to pressure Saudi Arabia to boost production to bring price down.
I repeat, to bring price down to please consumers, not to hike price to help Oil Companies.

I beg to disagree. Trump is highly interested in those oil companies working than closing shop.He see it as Americans way in the past of building a culture. That is why he wants Americans companies that have relocated production to other countries back.He believes those companies have memories and family histories tied together.
So what is the whole baby drill all about..
It does not mean he equally wants Oil too expensive to make its products expensive. for her citizens.Thr is a price balance he wants to achieve for both aims.Do yo know the size of American oil companies that he will want them shut down.
He knows all that noise about fossil fuel na scam

Streetinvestor2:
I beg to disagree. Trump is highly interested in those oil companies working than closing shop.He see it as Americans way in the past of building a culture. That is why he wants Americans companies that have relocated production to other countries back.He believes those companies have memories and family histories tied together.
So what is the whole baby drill all about..
It does not mean he equally wants Oil too expensive to make its products expensive. for her citizens.Thr is a balance he wants to achieve both aims.Do yo know the size of American oil companies that he will want them shut down.
He knows all that noise about fossil fuel na scam

To flood everywhere with oil.
In other words to crash the price of crude oil.

It's up to oil companies to adapt and survive. But Trump wants cheap oil and that's the whole point of drill baby drill. Trump actually wants baby to drill himself to death.

But baby (oil companies) can adapt and survive by deploying technologies that will help them drill profitably even with oil at $30/Barrell.

Now back to the origin of this conversation.
Trump will crash oil. Oando had experienced this during Trump's first coming,
It was the drill baby drill of the US Shale Industry that took OANDO stock down to N5.
With Trump back in office, a repeat of history is almost certain. Oil glut and price crash is almost inevitable. That's why Oando is in mad quest for a Refinery.

Aradel has a Refinery, albeit a baby one.
If you can't sell your crude, you turn it to petrol and sell.

Aliko will be King beneficiary of drill baby drill with his oceanic capacity Refinery. Traders from all over the world will beg him to take crude oil. The Nigerian mafia that tried to frustrate him will beg him to take crude. And already, Refineries are shutting down all over far left Europe to depend on DangRef. Aliko will quickly climb into world's top 10.

zendi:

To flood everywhere with oil.
In other words to crash the price of crude oil.

It's up to oil companies to adapt and survive. But Trump wants cheap oil and that's the whole point of drill baby drill. Trump actually wants baby to drill himself to death.

But baby (oil companies) can adapt and survive by deploying technologies that will help them drill profitably even with oil at $30/Barrell.

Now back to the origin of this conversation.
Trump will crash oil. Oando had experienced this during Trump's first coming,
It was the drill baby drill of the US Shale Industry that took OANDO stock down to N5.
With Trump back in office, a repeat of history is almost certain. Oil glut and price crash is almost inevitable. That's why Oando is in mad quest for a Refinery.

Aradel has a Refinery, albeit a baby one.
If you can't sell your crude, you turn it to petrol and sell.

Aliko will be King beneficiary of drill baby drill with his oceanic capacity Refinery. Traders from all over the world will beg him to take crude oil. The Nigerian mafia that tried to frustrate him will beg him to take crude. And already, Refineries are shutting down all over far left Europe to depend on DangRef. Aliko will quickly climb to world's top 10.

I don't have strength for further talk on this matter. The baby drill is not about crashing oil price.It is about those oil companies coming back to business because of all that lies about fossil fuel and moving to environmental friendly energy.
Many sahel oil companies will close shop if oil drops below #50 dollars and trump will not want that to happen. And if those companies shut down trump will be at the mercy of opec to take price high.And don't forget Russia is beginning to align with opec this days.Those oil companies survival and back to operation is very important to trump . That said oil is not going below #50 dollars anytime soon.

Streetinvestor2:
I don't have strength for further talk on this matter. The baby drill is not about crashing oil price.It is about those oil companies coming back to business because of all that lies about fossil fuel and moving to environmental friendly energy.
Many sahel oil companies will close shop if oil drops below #50 dollars and trump will not want that to happen. And if those companies shut down trump will be at the mercy of opec to take price high.And don't forget Russia is beginning to align with opec this days.Those oil companies survival and back to operation is very important to trump . That said oil is not going below #50 dollars anytime soon.

During one of Trumps campaign, he said the way to bring the price of EVERYTHING down is by slashing energy cost in half. His plan is to drop energy cost by 50%. How do you thing he will achieve this? Remember his first term? Crude futures contract got so bad, it was briefly in the negative. If Trump is going to keep his campaign promise of dropping energy prices, crude will have to come down. Imo, there is no other way around this

zendi:

To flood everywhere with oil.
In other words to crash the price of crude oil.

It's up to oil companies to adapt and survive. But Trump wants cheap oil and that's the whole point of drill baby drill. Trump actually wants baby to drill himself to death.

But baby (oil companies) can adapt and survive by deploying technologies that will help them drill profitably even with oil at $30/Barrell.

Now back to the origin of this conversation.
Trump will crash oil. Oando had experienced this during Trump's first coming,
It was the drill baby drill of the US Shale Industry that took OANDO stock down to N5.
With Trump back in office, a repeat of history is almost certain. Oil glut and price crash is almost inevitable. That's why Oando is in mad quest for a Refinery.

Aradel has a Refinery, albeit a baby one.
If you can't sell your crude, you turn it to petrol and sell.

Aliko will be King beneficiary of drill baby drill with his oceanic capacity Refinery. Traders from all over the world will beg him to take crude oil. The Nigerian mafia that tried to frustrate him will beg him to take crude. And already, Refineries are shutting down all over far left Europe to depend on DangRef. Aliko will quickly climb into world's top 10.

The Nigerian Mafia
Those ones don't have crude to beg Dangote to take again.
They have sold all of them 5-10 years in advance if not more..

Shey u dey read the latest shenanigans and tit-for-tat playing out in the Crude-for-Naira Deal?
( to be or not to be going forward)

I think the mafias will be better off if crude price crashes. As they have already sold our crude 5yrs in advance at a costlier rate of $70 and above before Drill-baby-Drill ascension to power.

So weather low prices + low crude demand worldwide..
The so called mafias have secured their future clients..

freeman67:


United Security Registrars is the same as Coronation Registrar's. It's just achange of name. So invariably, the movement is just from centurion to Coronation..

SEC sanctions Mainland Trust, Centurion Registrars over market infractions

THE Nigerian Securities and Exchange Commission (SEC) said it had sanctioned Mainland Trust Limited and Centurion Registrars Limited over non-compliance with regulatory guidelines. The sanctions take immediate effect, SEC, the apex regulator of the Nigerian capital market, said in separate statements on Friday, March 14. In the notices signed by its management to inform the investing public, the commission stressed that it acted in line with the provisions guiding the operations of the Nigerian capital market.

Mainland Trust registration cancellation
According to SEC, the decision to revoke Mainland Trust’s registration as a capital market operator was informed by the company’s failure to comply with regulatory directives and the non-resolution of several complaints against it. “This was made pursuant to the powers of the commission under Section 38(4) of the Investments and Securities Act, 2007 and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations 2013. “All clients of Mainland Trust Limited are by this notice advised to contact the Central Securities Clearing Systems Plc (CSCS) for appropriate guidance on the transfer of their stocks to another stockbroker of their choice,” SEC stated. It urged all other regulatory bodies, including the Nigerian Exchange Group (NGX), Institute of Capital Market Registrars (ICMR), Chartered Institute of Stockbrokers (CIS), Central Securities Clearing System (CSCS), and all Capital Market Trade associations to discontinue capital market-related dealings with the company.

Centurion Registrars suspension
According to the apex capital market regulator, Centurion Registrars Limited, its directors and sponsored individuals were suspended from capital market activities. The Securities and Exchange Commission (SEC) has suspended Centurion Registrars Limited, along with its directors and sponsored individuals, from participating in all capital market activities with immediate effect. The announcement was made on Friday, March 14, 2025. The suspension by SEC follows Centurion Registrars’ failure to comply with regulatory directives and unresolved complaints against the firm. As a result, SEC has advised all clients of the company to contact Africa Prudential Plc for guidance on transferring their portfolios to another registrar of their choice. In addition, SEC has instructed all capital market trade associations—including the Nigerian Exchange Group (NGX), the Institute of Capital Market Registrars (ICMR), the Chartered Institute of Stockbrokers (CIS), and the Central Securities Clearing System (CSCS)—to cease all dealings with Centurion Registrars and its principal officers. Centurion Registrars, a share registration firm, provides services such as public fund-raising facilitation, investor representation, and dividend disbursement. According to SEC, the suspension is in accordance with its authority under Section 38(4) and (5) of the Investments and Securities Act, 2007, and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations, 2013.

https://www.icirnigeria.org/sec-sanctions-mainland-trust-centurion-registrars-over-market-infractions/

https://techeconomy.ng/sec-suspends-centurion-registrars-from-capital-market/

For the sake of clarity, the 6 companies that were being managed by the now-suspended Centurion Registrars are as follows:

1). DIAMOND BANK PLC (They are now AccessCorp Plc, and have been moved to United Securities Registrars, which is now known as Coronation Registrars)
2). C & I LEASING PLC (https://www.c-ileasing.com/). But they have moved to Cordros Registrars in January 2022.
3). LINKAGE ASSURANCE PLC (https://www.linkageassurance.com/) But they have moved to Apel Capital Registrars.
4). NIGERIA WIRE INDUSTRIES PLC
5). UNION DICON SALT PLC (https://uniondiconsaltplc.com/)
6). VITAL PRODUCTS LIMITED (https://www.vitalproductsplc.com/)

List of 23 Stockbrokers that are on SEC's watchlist, that may be De-registered are:

1) Alangrange Securities Limited
2) Arian Capital Management Limited
3) Bestlink Investment Limited
4) Covenant Securities & Asset Management Limited
5) Cradle Trust Finance & Securities Limited
6) Dependable Securities Limited
7) Excel Securities Limited
8. Investment Centre Limited
9) LB Securities Limited
10) Mainland Trust Limited
11) Marriot Securities & Investment Company Limited
12) Northbridge Invest & Stockbrokers Limited
13) Options Securities Limited
14) Perfecta Investment Trust Limited
15) Phronesis Securities Limited
16) PML Securities Company Limited
17) Professional Stockbrokers Limited
18) Redasel Investment Limited
19) Support Services Limited
20) Tower Asset Management Limited
21) Vision Trust & Investment Limited
22) Waila Securities and Funds Limited
23) Yobe Investment Company Limited


Now that Mainland Trust Limited has finally been De-registered by SEC, which Stockbroker will be the next to be de-registered?

Trade cautiously...

essentialone:
List of 23 Stockbrokers that are on SEC's watchlist, that may be De-registered are:

1) Alangrange Securities Limited
2) Arian Capital Management Limited
3) Bestlink Investment Limited
4) Covenant Securities & Asset Management Limited
5) Cradle Trust Finance & Securities Limited
6) Dependable Securities Limited
7) Excel Securities Limited
8. Investment Centre Limited
9) LB Securities Limited
10) Mainland Trust Limited
11) Marriot Securities & Investment Company Limited
12) Northbridge Invest & Stockbrokers Limited
13) Options Securities Limited
14) Perfecta Investment Trust Limited
15) Phronesis Securities Limited
16) PML Securities Company Limited
17) Professional Stockbrokers Limited
18) Redasel Investment Limited
19) Support Services Limited
20) Tower Asset Management Limited
21) Vision Trust & Investment Limited
22) Waila Securities and Funds Limited
23) Yobe Investment Company Limited


Now that Mainland Trust Limited has finally been De-registered by SEC, which Stockbroker will be the next to be de-registered?

Trade cautiously...

But that shouldn't mean investors would lose their shares in cscs accounts...

SonofElElyonRet:


But that shouldn't mean investors would lose their shares in cscs accounts...

They could loose any money in their wallets held to with these brokers though

chimex38:

The Nigerian Mafia
Those ones don't have crude to beg Dangote to take again.
They have sold all of them 5-10 years in advance if not more..

Shey u dey read the latest shenanigans and tit-for-tat playing out in the Crude-for-Naira Deal?
( to be or not to be going forward)

I think the mafias will be better off if crude price crashes. As they have already sold our crude 5yrs in advance at a costlier rate of $70 and above before Drill-baby-Drill ascension to power.

So weather low prices + low crude demand worldwide..
The so called mafias have secured their future clients..

They still supplied crude to Dangote refinery this past Friday though and by their statement (yet to be refuted), have supplied an average of 297k bpd since October 2024.

https://punchng.com/dangote-refinery-gets-fresh-crude-cargoes-from-nnpcl/

SonofElElyonRet:


But that shouldn't mean investors would lose their shares in cscs accounts...

But you will surely lose all the money that you have sent to your stockbroker, that you have not yet used to buy shares, and you will surely lose all the money you received in your stock trading account after you have sold off your shares, but that you have not yet withdrawn into your Bank account.

All of it will be gone 100%.

Unlike your money in the banks that are safeguarded and insured by NDIC, any unused money that you deposit to your stockbroker, will be 100% lost forever, when the stockbroker is De-registered by SEC!

Only your already bought shares are safeguarded by SEC and CSCS.

essentialone:


But you will surely lose all the money that you have sent to your stockbroker, that you have not yet used to buy shares, and you will surely lose all the money you received in your stock trading account after you have sold off your shares, but that you have not yet withdrawn into your Bank account.

All of it will be gone 100%.

Unlike your money in the banks that are safeguarded and insured by NDIC, any unused money that you deposit to your stockbroker, will be 100% lost forever, when the stockbroker is De-registered by SEC!

Only your already bought shares are safeguarded by SEC and CSCS.

People should learn to link their bank accounts to cscs so they get money from shares sold paid directly into their bank accounts

unite4real:


They could loose any money in their wallets held to with these brokers though

Sure.. people shouldn't leave their money laying idle with brokers

They should add Quantum Zenith Securities to that list. Horrible customer service.

essentialone:
List of 23 Stockbrokers that are on SEC's watchlist, that may be De-registered are:

1) Alangrange Securities Limited
2) Arian Capital Management Limited
3) Bestlink Investment Limited
4) Covenant Securities & Asset Management Limited
5) Cradle Trust Finance & Securities Limited
6) Dependable Securities Limited
7) Excel Securities Limited
8. Investment Centre Limited
9) LB Securities Limited
10) Mainland Trust Limited
11) Marriot Securities & Investment Company Limited
12) Northbridge Invest & Stockbrokers Limited
13) Options Securities Limited
14) Perfecta Investment Trust Limited
15) Phronesis Securities Limited
16) PML Securities Company Limited
17) Professional Stockbrokers Limited
18) Redasel Investment Limited
19) Support Services Limited
20) Tower Asset Management Limited
21) Vision Trust & Investment Limited
22) Waila Securities and Funds Limited
23) Yobe Investment Company Limited


Now that Mainland Trust Limited has finally been De-registered by SEC, which Stockbroker will be the next to be de-registered?

Trade cautiously...

GeneralDae:

They still supplied crude to Dangote refinery this past Friday though and by their statement (yet to be refuted), have supplied an average of 297k bpd since October 2024.

https://punchng.com/dangote-refinery-gets-fresh-crude-cargoes-from-nnpcl/

thanks for the update..
But it still suggests the deal isn't finalised yet..
From the page, they even had to delay the crude-shipment at the sea pending whether the naira-crude deal will continue or not.

But the major issue isn't the crude-Naira deal, it's the quantity.
@297kbpd you quoted is even less than 50% of DR requirement.

Depending solely on Nigeria will run DR bankrupt.
He will and is currently sourcing from outside.
https://businessday.ng/news/article/dangote-refinery-eyes-higher-imports-amid-talks-on-naira-for-crude-deal/


Seems NNPC in all their joint ventures don't have enough to go around after deducting statutory obligation.
But I am coming from the angle that the future-oil-contract sale might just be a blessing in disguise given current global price and possibly low demand.
(though I don't know the terms of the sale-contract)

HesInMe:
They should add Quantum Zenith Securities to that list. Horrible customer service.

Which one be quantum again
Una dey use brokers o

Agbalowomeri:


Which one be quantum again
Una due use brokers o

Zenith bank has officially joined the bank-Brokerage gang.
They seem to be learning tge ropes gradually

SonofElElyonRet:


People should learn to link their bank accounts to cscs so they get money from shares sold paid directly into their bank accounts

It really has not gotten to that. Linking your bank account to CSCS means every selling the money goes into your account directly. This call will not make quick buying and selling possible. If you know what I mean

jonnysessy:



It really has not gotten to that. Linking your bank account to CSCS means every selling the money goes into your account directly. This call will not make quick buying and selling possible. If you know what I mean

I get
I actually linked mine to cscs and also instruct my stockbroker to use their money to buy for me pending when I get credited and then pay them back. We come a long way

SonofElElyonRet:


People should learn to link their bank accounts to cscs so they get money from shares sold paid directly into their bank accounts

We fit go spend the money. Compounding no go work again.

essentialone:


We fit go spend the money. Compounding no go work again.

Leaving money with my stockbrokers is part of the avenue for financial discipline. If the money dey enter my account directly, my babes go don collect finish. When I sell, I fix the loot straight till we return.

essentialone:


But you will surely lose all the money that you have sent to your stockbroker, that you have not yet used to buy shares, and you will surely lose all the money you received in your stock trading account after you have sold off your shares, but that you have not yet withdrawn into your Bank account.

All of it will be gone 100%.

Unlike your money in the banks that are safeguarded and insured by NDIC, any unused money that you deposit to your stockbroker, will be 100% lost forever, when the stockbroker is De-registered by SEC!

Only your already bought shares are safeguarded by SEC and CSCS.

Interesting

According to IAS 21, companies are required to revalue their foreign liabilities at the end of each reporting period. This requirement has posed a significant financial burden on many Nigerian companies due to exchange losses resulting from the depreciation of the Naira. Several major organizations, including PZ, MTN Nigeria (MTNN), and Cadbury, have reported substantial losses directly linked to the revaluation of their foreign currency obligations.

However, this trend may soon reverse. If the current appreciation of the Naira against the US Dollar continues through March 2025, companies with significant foreign liabilities are likely to record exchange gains. This shift could lead to a substantial boost in profitability for these companies.

Take MTNN, for example: In Q1 2024, MTNN posted an exchange loss of ₦656 billion, which severely impacted its financial performance. Without this exchange loss, the company would have reported a profit before tax (PBT) exceeding ₦80 billion.

As companies prepare to submit their Q1 2025 financial reports—expected by April 2025—exchange losses are anticipated to reduce significantly or even disappear altogether. This will likely result in stronger financial performance compared to the same period last year.

Key Factors Driving Improved Q1 2025 Financial Reports:
Exchange Gains: The Naira's recent appreciation against the US Dollar could transform exchange losses into exchange gains, improving profitability.
Price Increases: Many companies have raised product prices to offset rising input costs, boosting revenue.
Liability Restructuring: Some companies are converting foreign loans into equity to mitigate future foreign exchange risks.
Import Substitution: Increased focus on backward integration reduces reliance on imported raw materials, insulating firms from currency volatility.
Market Implications:
Improved financial performance is likely to drive up stock prices, especially for companies previously penalized by the market due to poor results in 2023 and 2024. This presents an opportunity for investors to identify and invest in companies with a high probability of returning to profitability in Q1 2025.

Smart investors should:

Identify companies whose stock prices declined due to exchange losses.
Evaluate the likelihood of a return to profitability based on current market conditions.
Time their investments carefully, ahead of Q1 financial disclosures in April 2025.
This period presents a strategic window to capitalize on market recovery as companies report stronger financial outcomes driven by a more favorable currency environment.

essentialone:


We fit go spend the money. Compounding no go work again.

Okay

gloriousdawn:
According to IAS 21, companies are required to revalue their foreign liabilities at the end of each reporting period. This requirement has posed a significant financial burden on many Nigerian companies due to exchange losses resulting from the depreciation of the Naira. Several major organizations, including PZ, MTN Nigeria (MTNN), and Cadbury, have reported substantial losses directly linked to the revaluation of their foreign currency obligations.

However, this trend may soon reverse. If the current appreciation of the Naira against the US Dollar continues through March 2025, companies with significant foreign liabilities are likely to record exchange gains. This shift could lead to a substantial boost in profitability for these companies.

Take MTNN, for example: In Q1 2024, MTNN posted an exchange loss of ₦656 billion, which severely impacted its financial performance. Without this exchange loss, the company would have reported a profit before tax (PBT) exceeding ₦80 billion.

As companies prepare to submit their Q1 2025 financial reports—expected by April 2025—exchange losses are anticipated to reduce significantly or even disappear altogether. This will likely result in stronger financial performance compared to the same period last year.

Key Factors Driving Improved Q1 2025 Financial Reports:
Exchange Gains: The Naira's recent appreciation against the US Dollar could transform exchange losses into exchange gains, improving profitability.
Price Increases: Many companies have raised product prices to offset rising input costs, boosting revenue.
Liability Restructuring: Some companies are converting foreign loans into equity to mitigate future foreign exchange risks.
Import Substitution: Increased focus on backward integration reduces reliance on imported raw materials, insulating firms from currency volatility.
Market Implications:
Improved financial performance is likely to drive up stock prices, especially for companies previously penalized by the market due to poor results in 2023 and 2024. This presents an opportunity for investors to identify and invest in companies with a high probability of returning to profitability in Q1 2025.

Smart investors should:

Identify companies whose stock prices declined due to exchange losses.
Evaluate the likelihood of a return to profitability based on current market conditions.
Time their investments carefully, ahead of Q1 financial disclosures in April 2025.
This period presents a strategic window to capitalize on market recovery as companies report stronger financial outcomes driven by a more favorable currency environment.

This will happen to sugar on the 200B forex loss again.How much has Naira appreciated to dollars against end of the yr exchange rate Figure. Abeg at what rate did Naira end against dollars last yr

essentialone:


But you will surely lose all the money that you have sent to your stockbroker, that you have not yet used to buy shares, and you will surely lose all the money you received in your stock trading account after you have sold off your shares, but that you have not yet withdrawn into your Bank account.

All of it will be gone 100%.

Unlike your money in the banks that are safeguarded and insured by NDIC, any unused money that you deposit to your stockbroker, will be 100% lost forever, when the stockbroker is De-registered by SEC!

Only your already bought shares are safeguarded by SEC and CSCS.

You are correct. It happened to me when witchcraft closed shop.I lost 100k plus in the account

Streetinvestor2:
I beg to disagree. Trump is highly interested in those oil companies working than closing shop.He see it as Americans way in the past of building a culture. That is why he wants Americans companies that have relocated production to other countries back.He believes those companies have memories and family histories tied together.
So what is the whole baby drill all about..
It does not mean he equally wants Oil too expensive to make its products expensive. for her citizens.Thr is a price balance he wants to achieve for both aims.Do yo know the size of American oil companies that he will want them shut down.
He knows all that noise about fossil fuel na scam

Yes, the USA was the highest producer of crude oil in 2023, and I believe this has been the case for six consecutive years. But, the challenge is that they are also the largest consumer of refined petroleum products. Unlike Nigeria, where revenue from crude oil sales, taxes, and royalties forms a significant portion of government earnings, the U.S. derives less than 4% of its total annual revenue from crude oil.

As you rightly mentioned, they wouldn’t want oil prices to be too low, as that would hurt their producers, but they also don’t want prices to be too high, which would negatively impact consumers and the broader economy. It’s similar to the idea of wanting cement prices to rise in Nigeria to benefit cement producers, even though their contribution to the economy is relatively small, while the majority of the population would struggle with higher costs.

Agbalowomeri:


Leaving money with my stockbrokers is part of the avenue for financial discipline. If the money dey enter my account directly, my babes go don collect finish. When I sell, I fix the loot straight till we return.

You normally pull out, just to return later?

Agba baller dey fear unwanted pregnancy...