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Nairaland Forum / Nairaland / General / Business / Nigeria Loses N88bn As India, US Reduce Oil Imports (8902 Views)
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Nigeria Loses N88bn As India, US Reduce Oil Imports by basilo101: 10:01pm On Aug 14, 2016 |
India and the United States have slashed their imports of Nigerian crude oil by 43 per cent and 53 per cent, respectively, translating to a loss of at least N88bn in earnings, the latest report from the Nigerian National Petroleum Corporation has shown. http://punchng.com/nigeria-loses-n88bn-india-us-reduce-oil-imports/
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Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by junketer(m): 10:04pm On Aug 14, 2016 |
If ya smeeeeeell what the rock is cooking. I will be back later to comment. Make i go ask ifa why dem dey use bubu to punish nigerians. 9 Likes
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Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by mesoprogress(m): 10:20pm On Aug 14, 2016 |
It's a pity, we have leaders that refused to think. It's unfortunate, they are not smart, they should have seen this coming and plan accordingly. Military intervention takes time and will worsen the situation. Now oil prices are low, regions should be gradually weaned from oil. Why not grant ND their request of more resource control? Have a frank talk with them, have a time line to gradually heed their request. 60-40 is not a bad deal. Regions pay 40% tax to federal account on natural resources, be it oil, coal, minerals etc. Though you can't give them 60% suddenly, hunger may kill other regions off. That's why you need a frank talk with niger delta. Current 13% can be Instantly jacked up to 20%, and subsequently increased by 10% yearly until 60% mark is achieved. This will give other regions time to adjust and seek other sources of income. I'm sure our ND brothers will accept this term wholeheartedly. At the end of four years, nobody will be dependent on ND oil. They can afford to either develop or impoverish their land. The whole South want restructuring. Yoruba, Igbo, SS. Even middle belt is in game. Two northern regions can't hold the whole country to ransom. He that has ear, let him hear. This is for the good of all PS : this money should not be made available completely to governors. A percentage goes directly to communities. We make governors demigods by entrusting them with community funds. This way noone feels cheated or blame others for lack of development 53 Likes 5 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by AntiIPOOP(m): 11:23pm On Aug 14, 2016 |
All hail NDA- Flatheàds Oya lets suffer it together, abi the suffering not dey reach una area ni? Morons 5 Likes 3 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by basilo101: 11:57pm On Aug 14, 2016 |
AntiIPOOP:Lol, i smell frustrations. the power of 5% 44 Likes 5 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Feraz(m): 12:11am On Aug 15, 2016 |
I wonder how long we can catch up to the western world in terms of STEM and use it to boost the economy. We really lost out in the numerous Engineering wars (space, steel, semi conductors etc). Nations are investing in nanotech and we are hoping to manufacture pencils by 2018. Saudi Arabia and UAE are gradually trying to get off oil dependency, cleaner energy is being utilized by some countries. We really need to get our acts together. 17 Likes 2 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Rapwiz(m): 12:16am On Aug 15, 2016 |
chai.. 2 Likes
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Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by StOla: 12:23am On Aug 15, 2016 |
Knowledge9000: This bigoted loudmouth has been claiming Igbo ownership of the SS region. He has characteristically produced a 50% statistic from his arse as Igbos are wont to do. From "we SE and SS", it is now "we Igbos in the whole south, nothing like SS" The Igbo man has unilaterally declared the SS as non existing, and termed all as Easterners with Igbo majority. The ambitious and greedy Igbos never learn from their history fraught with self inflicted misery. So Delta state is now 50% Igbo, minus the Itshekiri, Ijaw and Isoko, I reckon the Urhobos whose population has been dominating the state, account for just 25% versus the 50% Igbo. Ikwerre are majority in Rivers, if they finally accept they are Igbos, then your majority claim in Rivers might stand. That Cross River, Akwa Ibom and Bayelsa have 1 or 2 Igbo villages that don't even constitute a local government area, doesn't make the insignificant Igbo size there translate to a majority in the general South South population. That there are Yoruba villages in Edo and Delta, in addition to the Itshekiris in both states, doesn't make the Yorubas majority in the SS. As for the SS / NigerDelta, in the event that Nigeria has to split, you will do well to exorcise any Igbo village out of your new country to prevent Igbo encroachment into your territory. They are good at being humble like beggars when they come cap in hand, but once they think they have an advantage, their true character blossoms. You do not need them for anything, they can only be a nuisance that nullifies whatever gains you made by exiting Nigeria. Use them if you must since they are beggars without a choice, then discard them when they outlive their usefulness. Don't be a fool to the Igbos, they only love fools as friends. 11 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Businessideas: 12:48am On Aug 15, 2016 |
Knowledge9000:When did igbos become 50% in Delta and in Rivers? You better stop coveting other people land.You are stoking unnecessary igbo bashing on a thread that requires intelligent conversations.The real igbo leaders are already jostling for positions in the dying PDP and don't even take people like you seriously.This thread is for Nigerians so you can carry your anger to your secessionist website. When our oil isn't sold, it's not a permanent loss,perhaps just a 'book value' loss because you may still recover your financial devaluation in the event that prices go up. A good case is Obasanjo and GEj government, while Obj made a total of N27trilion for 8 years , GEJ made N51Trillion for 6 years. The permanent solution is not crude oil, in fact, it's now a curse to Nigeria because we depend on it far too much. If this government diversify the revenue from oil, it would have achieved what all the previous governments could not achieve and future generations of Nigerians will remain grateful. If Lagos could diversify from federal government monthly allocation, I am sure that the federal government can. 10 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Nobody: 3:40am On Aug 15, 2016 |
StOla: Nonsense. That guy is right. We have over 5 Igbo villages here in Cross River, Our former governor Imoke is an Igbo man and speaks fluent Igbo. Rivers, I would say Igbos are over 65-70%...that's why Igbos dominate in all elections and have been ruling Rivers since 1999. Ikwerre is Igbo...don't let anyone fool you. Over 60% of Ikwerre marry from mainland...SE, the Odili's, Ameachi's, e.t.c...evidence of the strong bond and blood between them. The Ikewerre and Igbo divide only exist online by agent provacateurs, if you come to Port Harcourt...THEY ARE ONE PEOPLE, YOU WON'T EVEN KNOW. Delta is roughly 50% Igbo...they are many Igbo sub groups aside from Anioma and Agbor that many people don't know....that's why they think they are small. Itshekiri and Urhobo don't make up to 40%, and Ijaw is about 10%. Ijaws are predominately in Bayelsa but very tiny in Rivers and Delta. There is a reason why Asaba has remained the capital of Delta state despite Itshekiri and Urobo wanting to move it to Warri...they have tried under Ibori, Udaghan but realized it was impossible having seen how much of power and population of Igbos in the state. If Igbos were less than 50%, I swear they would have moved it to Warri via a bill in the State house of assembly but they know that 50% of the members in the house are IGBO, so you see why its not possible? I have lived in Calabar, Port Harcourt and Asaba...so I know. 46 Likes 8 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by AntiIPOOP(m): 7:47am On Aug 15, 2016 |
basilo101:First of all, I was not frustrated. Secondly, the opinion of the 5% doesn't matter. ![]() 3 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by veekid(m): 8:14am On Aug 15, 2016 |
Good news to Buhari |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by SamuelAnyawu(m): 8:14am On Aug 15, 2016 |
mesoprogress: You've said it all ![]() 3 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Sylvarresta(m): 8:14am On Aug 15, 2016 |
Now the shit is getting real, continue applauding the nda till hunger finish all of you there, nda sympathisers think it's only the north and sw that will suffer..... Let's wait and see 2 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Dexpro: 8:15am On Aug 15, 2016 |
Sigh ![]() |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by emmyid(m): 8:18am On Aug 15, 2016 |
waking up every morning, U are greeted with bad news here and there. Things just getting worst. Buhari is synonymous to BADLUCK! That the case wen U chase GOODLUCk away, U shud expect a BADLUCK! 6 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by bloodkiIler: 8:19am On Aug 15, 2016 |
Uduak2019: you just killed an ant (stola) with a sledge hammer ![]() 24 Likes 2 Shares |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by adekayo1234(m): 8:19am On Aug 15, 2016 |
Bad news is no longer new in this country... Next! |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Sunnycliff(m): 8:19am On Aug 15, 2016 |
So much sorry tales for this nation. God help us |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by metalDETECTED(m): 8:20am On Aug 15, 2016 |
Who cares .... let fire burn ![]() |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Miles300: 8:22am On Aug 15, 2016 |
mesoprogress:well when we have leaders who alys think of padding nd looting and don't think outside d box wat do u expect .. 3 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by mightyhazel: 8:25am On Aug 15, 2016 |
AntiIPOOP:5 facent owns the oil wealth. U don't sound frustrated,...u seem as tho u want 2 expire ...from hunger 8 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Nne5: 8:27am On Aug 15, 2016 |
…and bubu is still exploring for oil. "regions should be gradually weaned from oil"mesoprogress i love that ![]() ![]() ![]() 5 Likes 1 Share |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Echo50(m): 8:29am On Aug 15, 2016 |
We have a nation called nigeria based on the oil we have, can nigeria stand without oil? advise is this..., empower those into tailoring, the northerners and the igbos producing shoe, invest into business like agriculture etc 1 Like |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Modsenemy(f): 8:35am On Aug 15, 2016 |
How does Buhari or the ND take the blame for this again? I'm not sure there's a part that said we didn't have enoff oil to supply rather the buyers didn't demand for a tangible quantity. This is bound to happen in any business hence the more reason to diversify. What will happen if someday, cars don't run on petrol anymore? 3 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by decode55(m): 8:36am On Aug 15, 2016 |
Full blown recession loading ... |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by ehikwe22: 8:42am On Aug 15, 2016 |
Uduak2019:Your argument is pointless. it would have made some sense if the people you are fighting over their population agrees to being Igbo. the fact that these people say they are not igbos makes everything you just type to be senseless. 7 Likes |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by stonemasonn: 8:42am On Aug 15, 2016 |
If they refuse to buy put sanctions on every Indian businesses and business men in Nigeria. |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by Efewestern: 8:44am On Aug 15, 2016 |
hmmmm na wa |
Re: Nigeria Loses N88bn As India, US Reduce Oil Imports by ehikwe22: 8:46am On Aug 15, 2016 |
Modsenemy:Did you see the clause that gives a company the privilege to delay delivery in case of an emergency? who wants to be buying from someone he's not sure of getting delivery? 3 Likes |
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