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Nairaland Forum / Nairaland / General / Business / Oil At $25: Kachikwu Blames Saudi (2735 Views)
Foreign Reserve Drops To $25.209bn / FOREX: Nigerians Will Continue To Suffer, Pending Massive Refining – Kachikwu / Emefiele Blames Naira Fall On US Policy and Importation (2) (3) (4)
Oil At $25: Kachikwu Blames Saudi by Molebs(m): 8:05am On Jan 14, 2016 |
Kachikwu saying he was not expecting this is a technical and analytical incompetence on his part. it is well with my country. Which way Nigeria?
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Re: Oil At $25: Kachikwu Blames Saudi by Charliewyt: 8:08am On Jan 14, 2016 |
Diversify the economy |
Re: Oil At $25: Kachikwu Blames Saudi by amunkita(m): 8:09am On Jan 14, 2016 |
Kachukwu should consult Buhari afterall he promised fixing the price once voted for. 1 Like |
Re: Oil At $25: Kachikwu Blames Saudi by thebestprice(m): 8:10am On Jan 14, 2016 |
the sunni wahabis saudi terrorist are trying to destroy our collective livelyhood. |
Re: Oil At $25: Kachikwu Blames Saudi by Montaque(m): 8:21am On Jan 14, 2016 |
Look at how APC pass blames. it's now gone international. 3 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by ademega(m): 8:29am On Jan 14, 2016 |
this is seriously serious oh.
op its not too late to difesify |
Re: Oil At $25: Kachikwu Blames Saudi by Sibrah: 8:30am On Jan 14, 2016 |
The oil is becoming so cheap it is best it is used for powering industries and homes (economy) now, the fall part for Nigerians is we aren't industrialized, if we were by now cost of production will be dropping and giving us competitive edge in exportation of other goods to help shore up dwindling oil earnings. With all these don't be surprised our government will still go ahead and use abacha $300m (N60B) in addition to N200B plus to feed the poor people who aren't on their knees yet. Buhari should wake up and stop thinking he can juggle politics with developmental progress. 1 Like |
Re: Oil At $25: Kachikwu Blames Saudi by Gbengais(m): 8:35am On Jan 14, 2016 |
Baba leave Saudi I what's the way forward? |
Re: Oil At $25: Kachikwu Blames Saudi by OMOLEMONDAY(m): 8:41am On Jan 14, 2016 |
O GA OOO,WHY NA ,WHICH WAY NIGERIA WHICH WAY TO WITH OIL |
Re: Oil At $25: Kachikwu Blames Saudi by Nobody: 8:41am On Jan 14, 2016 |
While the price was high,I felt the high pain. I wish I care. 1 Like 1 Share |
Re: Oil At $25: Kachikwu Blames Saudi by Ecoterrorism(f): 8:44am On Jan 14, 2016 |
Even Iya basira the amala seller knew that the price of oil will fall. This government will soon blame Iya basira for withholding such a sensitive information 2 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by PAINGAIN: 8:47am On Jan 14, 2016 |
Montaque:o boy d thing tire me o. Blaming everybody but themselves. Very soon they will start blaming nigerians for voting for them. They will go like this........ my fellow nigerians, we blame all of u for voting for us when we r not ready to govern, na una fault o. 1 Like |
Re: Oil At $25: Kachikwu Blames Saudi by deandavid(m): 8:55am On Jan 14, 2016 |
this is the right time to face other resources in this country, Fayemi oya explore all other resources, the ball is in your court now, prove to us you are innovative as a minister. |
Re: Oil At $25: Kachikwu Blames Saudi by Proudlyngwa(m): 9:03am On Jan 14, 2016 |
You guys might want to read this thoroughly. It will help enlighten you http://www.merip.org/mer/mer171/oil-gulf-war http://www.vox.com/2014/12/16/7401705/oil-prices-falling http://m.nasdaq.com/article/everything-has-changed-oil-saudi-arabia-and-the-end-of-opec-cm432119. |
Re: Oil At $25: Kachikwu Blames Saudi by Chubhie: 9:04am On Jan 14, 2016 |
Thank goodness the budget got temporarily stolen so that bubu can repeg his benchmark. |
Re: Oil At $25: Kachikwu Blames Saudi by chynie: 9:04am On Jan 14, 2016 |
this APC administration is good at blaming someone. Now is no longer GEJ but Saudi. Lesson: work and stop blaming everyone but yourself 2 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by dirifred(m): 9:13am On Jan 14, 2016 |
amunkita:Boss, your response to a serious matter like this, is funny. I accept the present administration is inept, the issue of oil price is very serious and could drag the nations economy into recession. The Minister of petroleum GMB and his minister of state for Petroleum must show us they deserve their pay by tackling the issue pronto. 2 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by porka: 9:19am On Jan 14, 2016 |
These guys are hardly prepared for anything. All they do is blame everyone or everything. When will they take responsibility for what they signed to 'fix'? When are we going to read about strategies and plans of action? Is he going to wage war against the Saudis now? What's the use of blaming the Saudis now? Are we leaving OPEC for good? It is high we exited that organization and determine our own future somehow. 1 Like |
Re: Oil At $25: Kachikwu Blames Saudi by Pidggin(f): 9:34am On Jan 14, 2016 |
Stop blaming, instead create policies that will cushion the effect. |
Re: Oil At $25: Kachikwu Blames Saudi by Molebs(m): 9:48am On Jan 14, 2016 |
Proudlyngwa: Hmmmn... Very Informative! If OPEC can't manage this crisis...let the cartel be disintegrated then. I expect her primary assignment to be to manage oil prices... Every country seems to have lost it. Of the 12 countries, saudi seems to be the only country to breakeven with her budget. Diversification, as always said, is the way. |
Re: Oil At $25: Kachikwu Blames Saudi by orisa37: 9:59am On Jan 14, 2016 |
The Arabs don't work for Profits and don't understand it as the engine of Growth and Development. They share their resources freely in interest free loans so that they die not alone but with others. |
Re: Oil At $25: Kachikwu Blames Saudi by Proudlyngwa(m): 10:06am On Jan 14, 2016 |
Molebs:Actually its worse than that . Am busy right now, I will throw more light on this later |
Re: Oil At $25: Kachikwu Blames Saudi by Biafrarep(m): 11:17am On Jan 14, 2016 |
Oil producing states must demand for total resource control. Why should Kano or Borno depend on oil money from Delta or Rivers when they can grow groundnut or cotton or even hides & skin for export?? This useless contraption will continue to go in circles because of laziness, selfishness, envy & myopia of the North. If the FG will not repel the land use act & vest control of resources to states then millitants must ensure that not a single barrel leaves our shores! Why cant Enugu mine & export coal found within D state or Kogi do same with iron ore or Oyo with cocoa or Ebonyi with Lead & Zinc or Plateau with Tin & Columbite etc. Why are D so called leaders bereft of sense? Come to think of it, Buhari still budgeted billions for oil exploration in D Chad basin! Everyday they keep yapping about diversification & local content yet D same Buhari budgeted more money for information ministry than agriculture, he still budgeted billions for importation of BMW cars instead of using local plandts. Hypocritical !diat. 2 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by eddy4naija: 11:51am On Jan 14, 2016 |
I weep 4 dis contry becos if our past leaders had diversified d economy, we will not b in this mess today. we never had a real leader only bunch of unfocus and directionless rulers who only come 2 enrich demself at d expense of d people. I worked with d fed min of solid minerals b4 i left, and we had over 30 diferent solid minerals discovered nationwide in comercial quantities but alowed 2 waste away whereas most countries in world can only boast of one or 2 sm and are doing better dan us.may God save dis country |
Re: Oil At $25: Kachikwu Blames Saudi by eddy4naija: 11:59am On Jan 14, 2016 |
I weep 4 dis contry becos if our past leaders had diversified d economy, we will not b in this mess today. we never had a real leader only bunch of unfocus and directionless rulers who only come 2 enrich demself at d expense of d people. I worked with d fed min of solid minerals b4 i left, and we had over 30 diferent solid minerals discovered nationwide in comercial quantities but alowed 2 waste away whereas most countries in world can only boast of one or 2 sm and are doing better dan us. This sector alone can fetch us more foreign xchange dan oil. may God save dis country |
Re: Oil At $25: Kachikwu Blames Saudi by jpphilips(m): 12:25pm On Jan 14, 2016 |
Molebs: Incompetence? Almighty Bloomberg predicted above $40 for January and here we are, some of you are irredeemable block heads. Kachikwu should exercise patience, Saudi cannot cut production because US at the time has not, if they do, US will not only increase production but will likely take Saudi's or any other OPEC member's market share. The war has gone beyond price to market shares due to less demand. US just cut down production by 80,000bopd so the Saudi's might as well respond through OPEC, blame game will not help anyone here because every country is looking out for their national interest. Another thing Kachikwu must know is that Saudi though stock piled some savings for the rainy day is being affected by the recent development, they have cut down subsidies in the 2016 budget at the same time running on budget deficit. Kachikwu should rally other non OPEC members to join, if OPEC can control 65% of the world's output, they will become a formidable cartel once again. If that doesn't happen, they will remain at the mercy of the US. |
Re: Oil At $25: Kachikwu Blames Saudi by jpphilips(m): 12:40pm On Jan 14, 2016 |
Biafrarep: Very well then, pay the other states the development cost that was invested in the Niger delta, guess you think oil comes out through prayer and fasting? take your brain to the surgeon general for oil change, some of you are nincompoops by default. |
Re: Oil At $25: Kachikwu Blames Saudi by jpphilips(m): 12:45pm On Jan 14, 2016 |
eddy4naija: Where will you get the money to develop them? how much is your annual budget? how many foreign investors have showed interest in them and Nigeria denied them operating license? sometimes you guys should shut up and stop giving other countries the impression that Nigeria is a farm of goats. You hardly read sensible comments these days, only ignorant drunks and junkies. 2 Likes |
Re: Oil At $25: Kachikwu Blames Saudi by Ganjafama(m): 3:24pm On Jan 14, 2016 |
eddy4naija:What is the ministry of solid minerals ministering if they can't exploit what has been found? Or, are their job only to identify the minerals and determine if they are in commercial quantity? Why not partner with some private firms to start exploiting and exporting these minerals? |
Re: Oil At $25: Kachikwu Blames Saudi by Molebs(m): 3:32pm On Jan 14, 2016 |
@ jpphilips...you decided to insult everyone that had come to this thread to comment. Dropping your opinion alone shouldn't hurt.. you can give it a try.. it works. I learnt from your post though. |
Re: Oil At $25: Kachikwu Blames Saudi by Biafrarep(m): 5:11pm On Jan 14, 2016 |
jpphilips:Gerarahia men, which development cost are you talking about?? The first discovery of oil was during colonial period. Oil proceeds was used to build flyovers, national theatre, FESTAC Town, third mainland bridge in Lagos as well as other places in the North, today same oil money is being used to develope. Do you take the oil producing states as fools? Go to any oil producing region even here in Africa, places like Angola or Equatorial Guinea & compare them to the Niger Delta. Ungrateful !Diats. |
Re: Oil At $25: Kachikwu Blames Saudi by jpphilips(m): 5:24pm On Jan 14, 2016 |
Molebs: You should show empathy for the emptiness of your country men, the comments here can only come from individuals with advanced form of dementia. There is no room for these empty vessels on our national stage anymore, it is because of their emptiness that the senate wanted to gag us with their anti social media law, enough is enough, these oshogbo retards must go back to the cage that released them. It is time to label them for what they are and the emptiness they represent. |
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