IM DISAPPOINTED ABOUT NIGERIAN ECONOMY UNDER JONATHAN. EVEN D SENATE IS IN DILEMMA ON APPROVAL OF 2015 BUDGET. WHY? D BUDGET SUBMITTED BY JONA GOVT IS BASED ON $63/barrel whereas,as at yesterday,oil price was $45/barrel. D budget is dead on arrival. EXCESS CRUDE ACCT This is supposed to be a an option to make up for d deficit.Bcos,for d past 4yrs,oil prices never fell below 90 dollars/barrel and our budget had always benchmarked oil at 73/barrel..the difference of 20 dollars per day was supposed to be in excess crude acct. Unfortunately,Jonathan has looted this reserve and now NIGERIANS will be punished for govt lack of saving culture through unnecessary taxes & skyrocketed bills( e.g nepa bill). It is obvious,that other opec countries who made stupendous money as nigeria in d past 4yrs will not be affected at least in d next 10yrs bcos of savings. E.g. as at today,Saudi has $935 billion in its sovereign oil acct. But my country that had N12 billion naira as at may 2014 now has less than #1 billion as at yesterday. We need to stop being a consuming economy & spenders....I LISTENED TO JONATHAN GOVT to oil price crash,I was surprised at its argument that there was conspiracy against Nigeria by US & other buyers...The truth is,America has vision of what she wants in d next 50yrs & pursue it irrespective of govt in power (republican or democrats). America has in d last 3 decades search for alternative to oil,acquired oil exploration in iraq & reserved enough oil than oil producing countries. Brazil run their economy mostly on biofuel ....even,Ghana is reducing dependence on oil every year.. But,my president was busy buying warships for militants to protect his oil wells in bayelsa ...Is it not a shame that we now beg indians to buy our oil.... In a rational soceity, we need not waiting till May 29th to change a clueless govt...I cant wait
Posted on: Wed, 21 Jan 2015 12:36:34 +0000