Stats: 3,170,617 members, 7,878,788 topics. Date: Wednesday, 03 July 2024 at 06:44 AM |
Nairaland Forum / Salauwale's Profile / Salauwale's Posts
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2007 Honda CRV (Wine Red) TOKUNBO, cleared via Lagos port with 65000 millage. The car is extremely, extraordinary clean and in good perfect condition, First Body Car, AC chilling, clean fabric interior design, 60L Engine nothing to fix in it, just buy and drive car, pls serious buyer only should Contact; 2348035618731, Adeyemi (Location:Lagos)
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Tech support E.g; IT Service Manager Resume work before 9 Power on system and see pile of emails/tickets of what has gone wrong overnight Talk to people in the department, check on the Service Desk support Call ISP to complain about internet downtime or slow performance Get a coffee / tea and donut Sit down and go through emails, raise new RFCs for weekly CAB Boss calls me, heaps a load of shit for me to do before project meeting Call 3rd party vendors and complain about what happened overnight Couple of project meetings Lunch then meeting with vendor / suppliers Project trackers, update calendar for scheduled outages, Go online, browse Linda ikeji, nairaland for latest gist in town (most other social media are blocked) Chase Finance on releasing POs >Go home |
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President trumps response to the #Muslim ban.
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The inflation rate at the moment is killing I have to say. The surge in the prices of goods is also a major highlight. |
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Good or Bad, one major highlight in Nigeria this year? |
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(Swift 4g )Huawei lte cpe e5172 Model: e5172s-920 IMEI: 860453022193817 Someone help with unlock code, THANKS!!!! |
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We can't even have a civil discussion about phones without calling names. SMH 1 Like |
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Cc @lalasticlala , @seun |
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An overview of the oil market, OPEC and global recession. (Pics) This is my view from following the story for sometime now not an expert opinion if have made mistake please point out the ignorance don't let it spread: USA Roll back a couple of years,the oil industry is booming a barrel of oil sold over a 100 dollars per barrel and demand was very high then United States develops a new technology to extract oil called fracking. This leads to an oil boom in the United States driving the price of gas/petrol down locally. Previously, the United States had a law preventing oil exportation because of some artificial scarcity influenced by OPEC in the late 70's but this oil boom changed all of that so president Obama signs a bill lifting the ban on oil exportation hence, the USA reduced importation from countries like Nigeria and also became an exporter. The USA has the largest oil reserve, produces about 7million barrels per day (mb/d) and increasing but consumes twice that. CHINA The manufacturing company of the world whose economy has being rising progressively for over a decade plus suddenly shows a sign of decline hence, the need for less oil. The USA and China are the largest economies in the world and the largest importers of oil in the world. Together they account for about 40 percent of the global consumption of oil. IRAN Since the Iranian revolution of 1979, (Argo ft Ben affleck depicted scenes from that revolution) the United States had being imposing various sanction on Iran. Their uranium enrichment program aimed at developing nuclear arms further worsened matter as the UN even toughen sanctions on them in 2006 which affected their oil supply. Fast forward 2014 president Obama starts negotiating a peace talk with Iran to dismantle their nuclear research in exchange for a lift on sanctions, a deal was reached in January 2016 and Iran started to contribute about 4 mb/d. RUSSIA After the Russia Annexation of Crimea in Ukraine, there's being a lot of power play between the west led by USA and the UN against Russia. Various sanctions have being imposed on them since them. Russia being the second largest producer of oil about 10 mb/d behind Saudi Arabia 11 mb/d. The Russian economy is very similar to that of Nigeria being largely dependent on oil. And the purpose of sanctions is basically to hurt the economy so yes, lower price of crude oil is impacting on the Russian Economy. There are also Syria, Libya, Nigeria and Iraq whose oil production is or was being hit by terrorism who are currently just recovering but those are not major players with the exception of Iraq who produces about 4 mb/d. LOWER DEMAND The cases of China and USA the big economies has led to a reduction in the demand for oil. Global warming / climate change and the move to renewable energy is also affecting the global demand for oil. Hence, demand is falling. EXCESS SUPPLY With the development of fracking and the entrant of USA as a supplier, countries led by Saudi Arabia have taken steps to protect their market share by effectively increasing their supply of oil which In turn forces the price down and as such, countries producing at higher cost like the USA cannot compete in the market. Cost of production in the USA is about 50 dollars meanwhile in Saudi Arabia and most middle eastern countries it's about 20 dollars. This tactics coupled with the sanction lifted in Iran, stability in Iraq and Libya have recently pushed the supply of oil from about 25 mb/d in 2010 to presently about 34 mb/d. OPEC TODAY. Some hours ago, Russia (300 thousand bpd) and OPEC (1.2mb/d) agreed to cut supply by 1.5 mb/d for 6 months which has caused a rise in the price of oil from about 40dollars to 50 dollars. There's an argument in which artificial scarcity or hoarding as opposed to a system where the free forces of market demand determines the price of a commodity but politics or standard aside, most of these countries need money Nigeria being one and they need that excess profit on oil and that's all that needs to be said about the deal. FORECAST There's a possibility that as price rises, the frackers in USA an economy that is least dependent on oil will kickstart production that has being hit by the low prices which has caused many rigs to be shut across the USA. This will eventually knocks off the effect of the OPEC deal on the long term. Also, relationship between the west (USA/UN)and Russia is yet to improve so lower oil prices and a bad Russian economy is still good news to the west The currency of the world really is oil, it's all about the big oil industries and the biggest players are Saudi Arabia and Russia. With the incumbent trump administration, ties are likely to change from anti- Russia to pro Russia which in turn will be good news but there's also a possibility of anti-Saudi Arabia which will in turn take us back to square one but these are just speculations, Only time will tell, when this recession will end. #One love
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Reduction of about 1.2 million barrels per day. The production cut is exclusive of Nigeria and Libya. The deal has already seen the price of crude oil rise above 50 dollars. 55-60 dollars is the forecasted equilibrium. But the deal would only be in place for 6 months. 5 Likes
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"So if you reside in Nigeria and you are benefiting from being a Nigerian resident, it is only fair that you contribute to the system that makes you enjoy that standard of living.’’ Can you believe anyone would say this about a country where every fundamental amenities of life is epileptic. SMH How do they get appointed self. I think he disillusioned, what country does he think he's the tax master of 4 Likes 1 Share |
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richidinho: Don't forget data tax my brother. Taxification truly not diversification 7 Likes |
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steppin:We can try bro keep hope alive. Let's change the change |
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Fellow Nigerians we need to do more than just comment on nairaland about this matter . Internet/online business is the single opium of boys in a economy ravished by unemployment and this guys wants to make that even harder. Let your voice be heard. We need to trend this online let the world know how hard this government wants to make life for Nigerians. Tax is ok but not in this hardship and recession will a government generate revenue at the expense of its poor masses it's just unfair. Let's take the rant to twitter and express our dissatisfaction. Someone propose a hashtag. We can do it !!!!!!!!!! 4 Likes 1 Share |
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makydebbie:You're all talk no action. O tie le |
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makydebbie:I dare you to!!!!!!!!! |
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I want OP ![]() |
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What interests me most about this thread is how people seem to think you need a religion to have a moral compass. SMH. 2 Likes
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shadeyinka:You have said it all, religious views are radical by their nature . That's taking the bull by the horn I agree with you 100%. But don't forget about grace, it supersedes commands don't it? Love to me ain't a choice but that's a discussion for another thread |
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shadeyinka:I beg to differ. I already have a religious wife a religious kid isn't anything special especially when I know my children won't go to school and put atheist down as their religion. But they are kids, young and impressionable if you had told a 13 year old me I'll be like this now I'd tell you check again. Why am I not bothered? he'll grow up and learn to make up his own mind and unlearn all the santa and tooth fairy stories and if he sticks to his faith, that's his choice am perfectly cool with. We can all get along but you know what, we won't if we keep preaching radical religious views. In this case love really is enough Mod: am in a religious family and it hasn't wrecked my family. 7 Likes 1 Share |
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shadeyinka:Ma'am, most atheists were raised as believers. They still grew up to be atheist. i don't think that's an issue at all 1 Like |
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Loyalblak007:anytime soon, it will happen. quote me ![]() 1 Like |
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