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Nairaland Forum / Nairaland / General / Politics / Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting (22493 Views)
2019: Don't Listen To "Empty Barrel Elite" - Lamido Tells Buhari / Oil Price Hits $50, Nigeria’s Exports To Rise / How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today (2) (3) (4)
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Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by LRNZH(m): 7:25am On May 26, 2016 |
Yampotatocarrot: So is FG going to be negotiating with every aggrieved person in the Niger Delta because they have arms? That is unsustainable in my opinion. Lalasticlala u dey so? |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Yampotatocarrot(m): 7:58am On May 26, 2016 |
LRNZH: That is why I said they were wrong to have picked up arms in the first place..... Especially regarding this new Administration, cos I don't think I ever read about them requesting this government to consider their plight (which I think is proper, though not all) before they started blowing things up. 1 Like |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by GWMI(m): 12:21pm On May 26, 2016 |
Nigeria is the nation shoring up the price of Crude oil in the international market.Since we are producing less more nations have to take our place.Thanks. 1 Like |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Nobody: 12:21pm On May 26, 2016 |
LRNZH: Even if there was no bombing....we still won't benefit....because 1.We need oil to be much higher than that....at least $123 per barrel.....just to even balance the books. 2.We have to pay off a lot of debs incurred when oil was high. I think it is time we faced the truth.....oil has failed us. Time we forgot about it. and used our brains to take us to the next level. Resource dependency will not save us. 2 Likes |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Nobody: 12:22pm On May 26, 2016 |
LRNZH:But they say it may.......how come your phone is telling us this....... |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Leeeekeeee: 12:22pm On May 26, 2016 |
E good oooo... i support it to the fullest... When GEJ was making more money to diversify the economy, buhari sponsored bokoharam, saboteured the plans nd the menance financially gulped a very great percent of the realized fund.. 1 Like |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by hedonistic: 12:23pm On May 26, 2016 |
Let the old Daura Buffoon continue chasing Tompolo and threatening militants with military action. Instead of letting sleeping dogs lie and using sense and diplomacy to achieve the desired aim for the good of our economy, you are forming no-nonsense idiot all over the place. You think say na everything be gra gra. Animal. 4 Likes 1 Share |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Goke7: 12:26pm On May 26, 2016 |
Oil is a curse to Nigeria, the earlier we get off oil, the better for us. who the oil don epp apart from greedy politicians, the oil at $100 never added value to the Nigerians, so what's the fuss if its $50 |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by DIFY20(f): 12:26pm On May 26, 2016 |
u funny die Uduak2019: |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Rickcutie(m): 12:26pm On May 26, 2016 |
Fuel shuld really be cheap in nigeria |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by chuksmad(m): 12:28pm On May 26, 2016 |
mynaija123:How is it not his fault, where he should have applied diplomacy in dealing with ND militants. It his fault abeg |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Nobody: 12:29pm On May 26, 2016 |
U guys shdn't worry a time will come when we will start trekking from countries to countries |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by banio: 12:31pm On May 26, 2016 |
Who told Op that Niger Delta Avenders group is spearheaded by Ijaws. Has he not seen Ijaws dis associating herself 1 Like 1 Share |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by repogirl(f): 12:31pm On May 26, 2016 |
Buhari and Avengers should kiss and make up Na... the gragra on both ends is not helping the economy at all. If Yaradua, his younger brother could do it, why cant Boooooohari? |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Nobody: 12:32pm On May 26, 2016 |
Since pmb said Nigeria has not been making money since he came into power.So we don't have anything to gain or lose. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by hedonistic: 12:32pm On May 26, 2016 |
Forget Tompolo's denial that he has no links with the Avengers and the renewed spate of bombings. He certainly is behind it, for good reason too. Buhari was very stuuupid to go after this kind of person openly with the EFCC over flimsy issues that should be overlooked in the greater public interest. That sent all the wrong signals to the militant overlords, that they might be messed up by this Abokki unless they show him who is boss. Forget about the story that no one is above the law. Not in the real world. At times you MUST let sleeping dogs lie and use a common sense approach to tackle very difficult situations. Una never see anything. Until crude oil production grinds to a halt before the abokki animal in Aso Rock would know how the cookie crumbles. 4 Likes |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by banme1(m): 12:33pm On May 26, 2016 |
Nigeria. Not benefiting. its not niger delta alone o. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by wordychap: 12:34pm On May 26, 2016 |
LRNZH:Sure its partly due to a drop in crude supply from Nigeria that's made prices surge. Its more like some oil producing countries r behind d militancy in Nigeria so price of oil would recover to their benefit. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Onegai(f): 12:34pm On May 26, 2016 |
cold: People in the upper echelons of society, the top 5%, are relocating their families out of Nigeria because they thinks things are going to get worse. If people whom are arm-in-arm with government are moving out their families not to suffer, I wonder what we are all doing here |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by bettercreature(m): 12:36pm On May 26, 2016 |
TPAND:It's actually impossible not to depends on oil those stewpid politicians are just playing mind games about economic diversification,there is nothing like that! we are going to rely on oil forever and that is the fact we must all accept Just take a look at oil producing countries around the world and come back to quote me 1 Like |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by Adeniyimi: 12:37pm On May 26, 2016 |
That's why I always pray to God to kill dis naija delta sponsor and those idiot carrying out d operation. Why some tribe are so senseless to be distroying their future. They need to get sense. Stupid fellow Nigeria should be one of d richest in d world buy why God creat some idiotic tribe |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by hardbody: 12:39pm On May 26, 2016 |
mynaija123: But i heard in some quarters that people no longer cared a hoot about oil as several other states and regions have become oil producing. Besides emphasis is supposed to have shifted to other products. Una never chi chom ching |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by GWMI(m): 12:39pm On May 26, 2016 |
Yampotatocarrot:sir have you ever read their demands?No.Now one demand is the re opening of the maritime institute close down by Buhari and i remembered these youth holding protest in warri before the bombings so Buhari is to blame and not anyone else.The hatred of Buhari for the South, is forever going to be a problem for the economy.The Northerns might have the security, but we southerns owns the economy should any unrest take place in the Niger Delta, it affects the nation badly.Thanks. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by hopilo: 12:40pm On May 26, 2016 |
Impact of pipeline bombing on oil prices |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by hardbody: 12:43pm On May 26, 2016 |
hedonistic: You understand how we roll bro. He will conFess to who is the boss |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by obailala(m): 12:43pm On May 26, 2016 |
Uduak2019:Nigeria is producing half of the quantity it should be producing, infact Nigeria's reduced production is the reason the price has hit $50. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by permanentgrace(m): 12:47pm On May 26, 2016 |
Unfortunately, the dictator iddiotic of a president thinks he knows all and can fight all. You can never win completely fighting militants/terrorists. Dialogue always the way to go. But unfortunately, this Daura President nepa certificate holder of a president wont understand it. 1 Like |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by permanentgrace(m): 12:50pm On May 26, 2016 |
hopilo: A case study in Nigeria. Can you discuss on the topic? I might learn a thing. |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by wordychap: 12:51pm On May 26, 2016 |
Quakertellicus1:Why do u guys talk like this, giving govt. excuses for failure Nigeria gets about 0.58 of crude money n d oil companies take d rest. Even at 1.4m barrels/day production, if d 50 dollars/barrel is sustained we make 1.2billion dollars a month. At d present exchange rate that's more than enough to sustain d country. 1 Like 1 Share |
Re: Crude Oil Hits $50 Per Barrel. Nigeria not Benefitting by heo88(m): 12:57pm On May 26, 2016 |
LRNZH: Errmm I'm not trying to be funny, but a little correction is needed here: Yes the West Texas Intermediate crude benchmark has hit $50.08 which can be seen as favourable, but this can be attributed to the actions of the militants in the Niger Delta and wildfires affecting oil fields in Canada. FYI the way the pricing works is much like supply and demand in economics. If the militants dropped off the face of the earth tomorrow and somehow the oil production increased significantly, the increase in output will apply downward pressure on the prices of oil globally. Frankly speaking, many outside of Nigeria would like to maintain the current oil production output or even slightly reduce it in order to further increase oil prices. For the record, lower oil output is likely to increase global prices. If the right balance is struck then the increased revenues can offset Nigeria's current inability to maxmise its output capacity/potential. |
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