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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg (1123 Views)
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Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by dre11(m): 3:50pm On May 06, 2020 |
Despite Brent-crude futures rallying in recent weeks, Nigeria, is facing a fast-looming future without reliance on fiscal revenue from its massive oil wealth, Bloomberg has reported. https://www.pmnewsnigeria.com/2020/05/06/nigerias-oil-revenue-dries-up-and-may-be-so-for-next-3-years-bloomberg/ Lalasticlala 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Millenniumlady(f): 3:56pm On May 06, 2020 |
Invest in agriculture they won't listen maybe when it dries permanently everybody eyes go clear 3 Likes |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Golan007: 3:57pm On May 06, 2020 |
Time for Nigerians to roll up their sleeves even further. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 3:58pm On May 06, 2020 |
Time to remove fuel and power subsides, and diversify into industry, and to stop pretending there is a national cake...because there isn't one. Time for state governors to make the hard choices to industrialize, and to stop being so corrupt. Ditto federal government. Economists have long known about “Dutch disease,” which happens when a country becomes so dependent on exporting natural resources that its currency soars in value and, as a result, its domestic manufacturing gets crushed as cheap imports flood in and exports become too expensive. Pass the books, hold the oil 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by amaniro: 3:59pm On May 06, 2020 |
This is a great sign that is time for Nigeria to diversify it's Economy, let's stop depending on crude oil. Agriculture is the best alternative to a stable economy because human won't stop consuming Foods. Another is Entrepreneur. Please Nigeria Government should invest massively in these sectors because from all indication, Crude oil is gradually falling as the world's precious gift. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Racoon(m): 3:59pm On May 06, 2020 |
Divert to non-oil dependent economy with focus on renewable energy sources.Stop all the useless oil exploration ventures now.Mechanized farming, heavy industrialization, Encouragement of SMEs etc. Adequate funding of ICT research institutes, improving the cyber security of the country to enable international technological and entrepreneurial platforms, improving on our telecommunications system and subsidizing processes of technology, creating opportunities for investors in ICT to come in some more. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 4:01pm On May 06, 2020 |
Egungun finally strolled into the ocean. 2 Likes |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by amaniro: 4:01pm On May 06, 2020 |
kikero: Why can't they work and steal at the same time? I know it's almost impossible not to loot in elective positions but you can work massively and still eat your share. Nigeria politicians don't understand, dumb fucccckkkssss 5 Likes |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by edo3(m): 4:02pm On May 06, 2020 |
Hmmmmm,, there are a lot of inconsequential ministries,, cut dem off.. I know of a lady at fire svc,, she hardly go to work,, but alert every months.. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by horsepower102: 4:02pm On May 06, 2020 |
Dont worry, the least poorest states NBS published will be fine just like they were during last recession. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Horus(m): 4:05pm On May 06, 2020 |
https://www.youtube.com/watch?v=5KYneTiECzk COVID-19 crisis curbs oil demand: Nigeria braces for further cuts Africa's largest oil producer, Nigeria relies heavily on oil revenue for its economy but the huge surplus in global supply is causing further damage. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Fasindo: 4:13pm On May 06, 2020 |
Everything is drying up under Buhari. Buhari will rather borrow from China and IMF than diversifying the Nigerian economy. What am I even saying can Buhari pronounce DIVERSIFY'. The only economic blue print in Buhari head is 'borrowing', he even borrowed to buy his presidential form. 4 Likes |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by DanseMacabre(m): 4:15pm On May 06, 2020 |
If this is what it would take for total dismantling or reconstruction of this unholy matrimony to be achieved, mashallah. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Faponmile(m): 4:22pm On May 06, 2020 |
I hope it remains like this till kingdom come. Las las make all men go their way. No joy. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 4:35pm On May 06, 2020 |
Not surprised at all. The reason some oil companies are leaving. Also the reason Buhari and his people were bent on looking for oil near lake chad. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Evablizin(f): 4:36pm On May 06, 2020 |
Not bad,anything that has beginning has an end. Make everybody rest. 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 4:38pm On May 06, 2020 |
Racoon:I read anambra has loads of gas but they refused to tap into it. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by thundafire: 6:22pm On May 06, 2020 |
Tell government to diversify completely from oil the said No,now it's too late,and b4 other sectors will wake up will take years, because Nigeria politicians have failed. 5 Likes |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by lukui: 6:34pm On May 06, 2020 |
Before oil, weren't we earning revenue from "something"? 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Horus(m): 7:18pm On May 06, 2020 |
Time to develop agriculture |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Ayo8(m): 7:38pm On May 06, 2020 |
watch how thieving governors will try to impose unnecessary taxes on the masses they never empowered in coming years |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Biafrarep(m): 8:59pm On May 06, 2020 |
They are now surviving on Chinese and IMF loans. By the time the abo.kis realize that there is no more oil revenue to loot, they will simply walk away from the fake country Adieu Zoogeria 1 Like |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 9:02pm On May 06, 2020 |
It seems Nigeria is cursed with bad leaders: I don't know.... #Iyayin |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by princemillla(m): 9:33pm On May 06, 2020 |
The real deal is about to strike. |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by loosecanon50(m): 9:48pm On May 06, 2020 |
News of the century |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Nobody: 9:51pm On May 06, 2020 |
NO GROUND HARD LION NO GO CHOP GRASS |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by horsepower102: 5:48am On May 07, 2020 |
The big oil producers are desperate to eliminate the smaller competitors. Nigeria is a very easy target. All countries like Russia and Saudi Arabia will do especially now there is a massive historical glut is to sell their oil cheaper than the rest. Even with the OPEC agreements, Russia and Saudi Arabia are not obeying the agreement as signed. The fight is still ongoing secretly because it’s now about market share. Nigeria will have to discount its oil to a daily loss just to maintain its current market share. We are talking about the corona effects on oil We are also talking about the OPEC plus crisis But no one is taking about the effects massive production of electric vehicles is causing. This one will put the nail in the coffin for small oil producers like Nigeria. Cc: lalasticlala |
Re: Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years: Bloomberg by Octopusssy(f): 12:36pm On May 07, 2020 |
This is not a good time to pray for 'oil job'. Perhaps now the clueless and incompetent government will pay attention to other sectors of the economy because overreliance on oil revenue is what has brought us to this sorry state. 1 Like |
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