dein77:


We no go drink am ooo....we will just work harder.

GOOD

redcliff:


Im not saying it cant be done now.. but the right time it should have been done when there was excess, it wasnt so right now, it would inflict more hardship on the people because the in the end and during times like these, the people bear the final burden.

Got you!

That's the price we have to pay for electing selfish and nonchalant leaders in authority. I strongly agree with the OP as well because our leaders will be forced to look elsewhere to harness and continue their loot. When one door shuts, another opens.

dein77:
Millions of Nigerians are alarmed at the falling oil prices at the international oil market. For many, it's a sign of doom. But for me, and probably for a microscopic few, it's a blessing in disguise.

Our leaders have wasted decades of oil fortunes that would have been massively invested in infrastructures and other sectors of the economy, and now they are falling the accompanying consequences. Isaac Newton's Third Law of Motion comes to mind. It was only a matter of time before Nigeria paid for its profligacy and waste. We hardly learn, as a nation!

We have refused to think beyond oil; our mental faculties took a deadly sabbatical from the moment the blackgold was discovered in commercial quantities. Now, external forces are controlling our destiny as a people.

The falling oil prices will definitely FORCE our leaders to be more proactive in diversifying our economy. Diversifying our economy will definitely give us more options of survival. It's an economic suicide for an entire nation to depend entirely on a commodity so volatile in the International market. If ever we needed to diversify our economy , it's NOW.

The crashing oil prices will also, to a long extent, curb official corruption and impunity. Let's see if the government will seat idly and watch some few eggheads embezzle it's limited resources. A commodity that once sold at over $100 per barrel now goes for a little above $55! Infact the amount of money left to be embezzled is largely reduced.

The crashing oil prices may also force our thieves to pay more attention to our local refineries, as this may yield more profits than just selling the raw crude directly to the international at very low prices.

In every disappointment, there's some blessings. Let's take advantage of this slump and take more proactive steps. As an individual, I've taken some steps to curb financial recklessness as 2015 approaches.

He who fails to plan, has planned to fail.

Happy Xmas in advance, and a prosperous New Year to all Nairalanders.

Correct!. I just stated in another thread that our economy cannot grow unless we're manufacturing what other nations need. To do all what you've just suggested diversifying the economy the first step is; we must embrace science.

Choi. U go wicked for real life ooo.

But na true sha. Askari dokubo and tompolo can swim with their big fat tummy inside their oil well.

dhammyg:
yes

AT LEAST THE FG WILL BE FORCED TO PAY ATTENTION TO OTHER SECTORS E.G AGRICULTURE.AND THE NIGER DELTANS CAN DRINK THEIR OIL

duni04:
Those idots we have in government don't know that now is the perfect time to present a convincing argument for the removal of petrol price regulation. Petrol price has plummeted everywhere else except in Nigeria! If we remove the subsidy on petrol today, Nigerians will buy oil at a slightly cheaper rate and it will free up plenty of money for the Federal Government.

if your statement is true, then madam ngozi doesnt even deserve to be secondary school teacher of economics.

Nigeria's worst enemy

If oil revenues are no longer reliable then Nigerian govt will turn to more borrowing and increasing taxes rather than reducing waste and corruption. Believe me our politicians will never tighten their belts. They will rather tighten your own, my own and that of our children.

Dear Patriots, Monday ,22nd of December has been declaredSolidarity campaign day for General Mohamodu Buhari / Pastor(Prof) Osinbajo. We humbly ask you to put up their pictures on your BB, Twitter handles,Facebook,whatapp, and all social medias ! We intend to have 50 million of their pictures up. It is possible!!!! PLS BROADCAST Today we have decided to change the fortune of our dear country and purposely create hope for our generations unborn. A number of us may not know about the days we use to export cocoa, the days of groundnut pyramid, the rubber in Old Bendel state, the days farmers/traders leave their goods in public and buyers take what they need and leave the money in the trays , the days $2 exchanged for N1 , the days young graduates were given Beetle, Citroen or Datsun 120Y cars which comes with an automatic job ! This ''animals in human skin'' according to Fela Anikulapo have basterdized our socio-economic lives.This campaign therefore is to re-awaken us that our dear Nigeria has a lot more resources than the collection of the G7 countries of this world (SAD.. isn't it? )BUT our leaders both past and present have squandered and still squandering our collective wealth.Now divinity has created another opportunity to make an change and we concerned patrots have decided to throw our weight and queue behind a man that had been president and has only one house, former PTF chairman without a petrol station, a disciplined Officer that brought sanity to our everyday lives (WAI), a Muslim that freely dines with Christains, a reserved gentleman that loves Nigeria. We are casting our votes for General Mohamodu Buhari and his running mate Prof (Pastor) Osinbajo. Please make Monday 22nd December a date.Thank you And God bless Nigeria.

True talk

There is a mistake most Nigerians make, that is forgetting that the state governments have the biggest role to play in the diversification of the economy, looking up to the federal government while most of the governor enjoy life with public money which is they get as share from the FEDs is wrong, apart from Obianor, I don't know of any other governor that is working towards the diversification of the economy of his state, if you look around Nigeria you will find out there are many things that need to be done but unfortunately the people want the president to do them while they have good for nothing governors and LGA chairmen. Forget about GEJ and look inwards and force your governors to work and grow the local economy, and we need true federalism because the monthly awoof the governors receive is not allowing them to think out of the box, just look at Theodore of Abia, kwankwashiorkor of kano or what? Aba has the ability to propel Abia to the world scene but awoof has made it impossible. Kaduna the same thing, it is quite unfortunate. Nigerians should stop complaining and use our tongue to count our teeth.

Olohunwa !

It's actually a blessing because Govt has begun to pay attention to other sectors and this will keep us prepared in the event our oil dries up in the nearest future as already predicted. ..

Also, state governments would strt scouting for ways to generate revenue instead of depending solely on Fed govt allocation maybe by encouraging investors, agricultural productions, etc and this ultimately springs development. ..


In general, all things being equal, this decline in oil price is actually a blessing though things may be too hard to handle now but the future will see the good outcome ...

cocoduck:
There is a mistake most Nigerians make, that is forgetting that the state governments have the biggest role to play in the diversification of the economy, looking up to the federal government while most of the governor enjoy life with public money which is they get as share from the FEDs is wrong, apart from Obianor, I don't know of any other governor that is working towards the diversification of the economy of his state, if you look around Nigeria you will find out there are many things that need to be done but unfortunately the people want the president to do them while they have good for nothing governors and LGA chairmen. Forget about GEJ and look inwards and force your governors to work and grow the local economy, and we need true federalism because the monthly awoof the governors receive is not allowing them to think out of the box, just look at Theodore of Abia, kwankwashiorkor of kano or what? Aba has the ability to propel Abia to the world scene but awoof has made it impossible. Kaduna the same thing, it is quite unfortunate. Nigerians should stop complaining and use our tongue to count our teeth.

You have spoken really well...State and local govts have a great role to play..

I do not think The falling oil prices will FORCE our leaders to be more proactive in diversifying our economy.
Rather dey may further plunge d available wealth n dust their hands.
Our system of government,our tribal,religious n political differences are our underlying problems. Solve those n u solve everything.

oscarjulliet
Please forget that thing. Buhari is not the answer to our problems. The death of True federalism is also the death of those groundnut pyramids you are talking about. How many times has buhari made mention of True federalism? None, instead he has talked about imposing sharia on the whole country, it is on record and you can Google it. Power must no go to the north at least for now.
We don't want to shrink back to the stone ages.

SENSE!!!

dein77:
Millions of Nigerians are alarmed at the falling oil prices at the international oil market. For many, it's a sign of doom. But for me, and probably for a microscopic few, it's a blessing in disguise.

Our leaders have wasted decades of oil fortunes that would have been massively invested in infrastructures and other sectors of the economy, and now they are falling the accompanying consequences. Isaac Newton's Third Law of Motion comes to mind. It was only a matter of time before Nigeria paid for its profligacy and waste. We hardly learn, as a nation!

We have refused to think beyond oil; our mental faculties took a deadly sabbatical from the moment the blackgold was discovered in commercial quantities. Now, external forces are controlling our destiny as a people.

The falling oil prices will definitely FORCE our leaders to be more proactive in diversifying our economy. Diversifying our economy will definitely give us more options of survival. It's an economic suicide for an entire nation to depend entirely on a commodity so volatile in the International market. If ever we needed to diversify our economy , it's NOW.

The crashing oil prices will also, to a long extent, curb official corruption and impunity. Let's see if the government will seat idly and watch some few eggheads embezzle it's limited resources. A commodity that once sold at over $100 per barrel now goes for a little above $55! Infact the amount of money left to be embezzled is largely reduced.

The crashing oil prices may also force our thieves to pay more attention to our local refineries, as this may yield more profits than just selling the raw crude directly to the international at very low prices.

In every disappointment, there's some blessings. Let's take advantage of this slump and take more proactive steps. As an individual, I've taken some steps to curb financial recklessness as 2015 approaches.

He who fails to plan, has planned to fail.

Happy Xmas in advance, and a prosperous New Year to all Nairalanders.

SuperModerator:
Blessing or curse, I don't understand why the price of fuel wasn't reduced
despite the price of oil being slashed by half

My reasons are;
1) If imported fuel costs N104/litre, what of the little we refine locally?

2) What of Diesel that had no subsidy, if PMS could fall from N145/litre to N104/litre (subsidy excluded) why didn't the price of diesel fall?
Not to talk of kerosene that the subsidy is in ghost (them no dey see us) mode

3)FG claims increase in dollar makes importation of refined crude more expensive.
What of more earnings we get from the exportation of crude oil due to increase in dollar

_Jayseehe

These are the more REASONS we should vote out this govt.
A govt that has consistently lied to its people and continuously impoverishing them as I type.

As BOB MARLEY wouldd say, "In the abundance of water, its only the fool that would be thirsty."

What else can i say? But to criticise the bad government which had mismanaged our resources and also the economy! How can a government take advantage of it's country economy and resources for personal use? While those campaigning for GEJ would come out to say that it wasn't easy for those who transformed USA, Singapore e.t.c. It might not be easy but is it with an incompetent govt or a govt that has turned the Nigerian economy into a family matter( they keep telling the masses we are the HEAD OF FAMILY ) they only care about themselves and not those who their policies are weakning and also sentencing to life imprisonment or death! All we need is Change in Nigeria and those occupying governmental positions( those who lack vision and mission for Nigeria and Nigerians ). They don't care about the future but only the present, if they really care about the future then Nigeria's economy should not be experiencing this backdrop/downturn. The refineries built in Nigeria are not working in full capacity( the little i know ) still the govt didn't formulate policies to rectify that but they formulate policies that exhibit invisible employment e.t.c. Many a Nigerian had the thinking in 2011 that GEJ might bring GOODLUCK to Nigeria but no it's the opposite because Nigeria has a whole isn't facing any development but a retarded growth. Nigeria and Nigerians have suffered enough and have been damaged to a extent that we ask for Change, let's remove the veil that blind us( causes us not to think of the future ) if we don't remove this veil. we may be the country which the bible talks about( TYRUS in book of Ezekiel )
The pride of Nigerians and Nigeria itself will only be restored with competent govt which Buhari/osinbajo can deliver.
Vote Buhari/Osinbajo Vote Change

kourhage:
It is indeed a blessing at least fir the first time we will be looking at what each region is going to bring to the table, south east more like the industrial hubb as to production, south west will bring her intellectual capacity, south south still oil, North west animal produce, and vegetables, North central more of quarry products and cement so everyone have something on table so less reliance on south south. God bless Nigeria

How can sourh east be the industrial hub? Where are the industries in the place to warrant that status.Are you saying that a broke country should now start spending scarce resources on a region where they are presently non existent?

[quote author=manny4life post=29043548]

Got you!

That's the price we have to pay for electing selfish and nonchalant leaders in authority. I strongly agree with the OP as well because our leaders will be forced to look elsewhere to harness and continue their loot. When one door shuts, another opens.[/quote

Thats one point i forgot to mention.. They actually would not look else where until there is no one single kobo to loot!.. If "individuals" can single handedly put their hands and loot our foreign reserve, do you think that they give a damn what happens tomorrow? the only set of people who would look else where are new set of leadership that have the interest of Nigeria at heart who just want a change.. But for these ones there? forget it my brother.. they would keep managing the little they can still loot till the end.

HOW DOES THAT CONCERN ME?
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I hope the price keep crashing.They never halla. It will crash to the extent that the Nigerian government will be forced to reduce locan fuel pump price.This is just the beginning.

I think it is God that is intervening gradually....All the culprits of fuel subsidy saga come out more glorified and got court granting them freedom, they are untouchables.

Some even came out openly to run for governorship elections in some states, when they ought be in jail in a civilised, less corrupt society.

Only in Nigeria will a man of 40yrs come out to openly say he has made billions by oil subsidy and will go scot free...

aspirebig:
I hope the price keep crashing.They never halla. It will crash to the extent that the Nigerian government will be forced to reduce locan fuel pump price.This is just the beginning.

I think it is God that is intervening gradually....All the culprits of fuel subsidy saga come out more glorified and got court granting them freedom, they are untouchables.

Some even came out openly to run for governorship elections in some states, when they ought be in jail in a civilised, less corrupt society.

Only in Nigeria will a man of 40yrs come out to openly say he has made billions by oil subsidy and will go scot free...

I also pray it crashes further more. The wicked must be paid back in their own very coin. It's their season of doom, and it's imminent and impending.

Some people who are not corrupt and are forward looking build Dubai out of their own oil prosperity because of a time like this. But ours is a country that is led by selfish and corrupt leaders over the years. Nothing was built out of our own oil prosperity. Not even the good standard of living for his people not to talk of future fall back measures like the Dubai in the middle east.

It is a big time blessing and is good, at least we can now face the fact and truthfully look elsewhere and diversify the damned economy that has been serving the interest of only few corrupt leaders at the expense of the over 150 millions Nigerians

Rising dollar costs and lower oil prices means that the govt would have much less to spend in the coming year(s) to come. Austerity measures have been put in place like Mansion and Luxury taxes but more are yet to come.

Let's be honest the rich do not like the idea of making so much money only to be forced to pay a huge part of it as taxes. Hence. loopholes in the law would be utilized and the so many billions aimed at would not be easily achieved in reality as is on paper. The middle class earner would be the one that bears the main bulk at the end of the day.

Well. if you had not yet started running your business after all the noise of the past decade by motivational speakers nationwide you might be the one paying more for increase in commodity prices not to mention the salary which is fixed would not be more taxed by the govt. Yes I said it, Nigeria is on its way to being a fully Tax run society as opposed to an Oil run society.

Next year would see the expulsion of ghost workers as well as retrenchment of overstaffed offices with the govt showing more commitment to cutting waste. Also union requests for higher pay would arise as well as the strikes to make that happen. Possible riots if the govt is unprepared and disgruntled elements use transference of the public pains to stimulate street protests. Certainly more crime and banks should be more on their toes (start trying to avoid physical banking hall transactions - get your token). Prepare for the inevitable as 2015 is an election year but pray for the best and at least until the elections are over avoid unnecessary travellings and unnecessary spendings. Do NOT borrow people money as stories from the ancestors may arise when time to return same is due.

Above all pray and expect a turn around in the future of our great country as we will be seeing more serious govt involvement in programmes that would truly better the nation. A time for the imprisoned josephs that did not stain their souls to shine.

Wishing you well - Teemy

nigeria lack the capacity and capability to diversify the economy.

A failed nation.

redcliff:
Its too late!!!

Diversification has already started, GEJ/Adeshina policies are helping the agric sector to grow, yes they can do more but a journey of a thousand miles begins with a step. Agriculture is that step

dein77:


I also pray it crashes further more. The wicked must be paid back in their own very coin. It's their season of doom, and it's imminent and impending.

You make me laugh.

If the oil price fall to a point those useless "leaders" would just run away.

Very useless "leaders".

teemy:
Rising dollar costs and lower oil prices means that the govt would have much less to spend in the coming year(s) to come. Austerity measures have been put in place like Mansion and Luxury taxes but more are yet to come.

Let's be honest the rich do not like the idea of making so much money only to be forced to pay a huge part of it as taxes. Hence. loopholes in the law would be utilized and the so many billions aimed at would not be easily achieved in reality as is on paper. The middle class earner would be the one that bears the main bulk at the end of the day.

Well. if you had not yet started running your business after all the noise of the past decade by motivational speakers nationwide you might be the one paying more for increase in commodity prices not to mention the salary which is fixed would not be more taxed by the govt. Yes I said it, Nigeria is on its way to being a fully Tax run society as opposed to an Oil run society.

Next year would see the expulsion of ghost workers as well as retrenchment of overstaffed offices with the govt showing more commitment to cutting waste. Also union requests for higher pay would arise as well as the strikes to make that happen. Possible riots if the govt is unprepared and disgruntled elements use transference of the public pains to stimulate street protests. Certainly more crime and banks should be more on their toes (start trying to avoid physical banking hall transactions - get your token). Prepare for the inevitable as 2015 is an election year but pray for the best and at least until the elections are over avoid unnecessary travellings and unnecessary spendings. Do NOT borrow people money as stories from the ancestors may arise when time to return same is due.

Above all pray and expect a turn around in the future of our great country as we will be seeing more serious govt involvement in programmes that would truly better the nation. A time for the imprisoned josephs that did not stain their souls to shine.

Wishing you well - Teemy

Scary, I must say. Very scary. I'm already planning far into the forthcoming year.