Topic: lncrease in price of crude (Read 51 times)
With the way thing dey happen for the country, even good news sef nor dey fit cause any change for the mind to f the citizens because, we know say our government no dey fit do wattin we expect them to do, even when the country dey for better profit, nothing changes. No be today the price of crude oil per barrel dey fluctuate, but even when we suppose dey happy we just dey vex because to the economy nothing dey change, if to say them tell us say dem dey use the profit from dollar increase and crude oil increase take dey pay the loan small small sef, e for no pain me, but yet we no dey know where any of them dey enter. With all the money wey we get we still dey suffer like this.
it is interesting to know that per per-barrel price has increased from $75 in December 2023 to a precedent-high of $86 as of today. Although oil prices fluctuate due to global reasons but this increase reflects government expectations for positive impact for the economy and achievement of CAPEX(capital expenditures) due to the increase in revenue from the oil proceeds.
https://punchng.com/oil-earnings-rise-by-n450bn-in-two-months-says-fg/?amp
This is not the first time we've had such increase, from 2011-2014 there was an upsurge in the price of crude oil, then one barrel was selling for about $100. the federal government then under the leadership of president Goodluck Jonathan had to create excess crude account in other to save some money for the raining days ahead, but some governors disagreed with the president and shared the money that was kept in the excess crude account. So this is not the first time we are having such increase in the market price of crude oil.https://punchng.com/oil-earnings-rise-by-n450bn-in-two-months-says-fg/?amp
The whole thing is that, this increases should reflect in the economy and not on newspaper's, because that has always been the routine.
The funny thing about these revenue increase to Nigerian government, it outcome doesn't amount or commiserate to anything. Me I don't focus on the revenue wey Nigeria dey make through petroleum and likewise, I believe say many nigerians too no dey too read on dem because wetin matter na how standard of living go improve and people go happy for the country when things dey go fine but government dey put square peg for round hole so that dem go fit embezzle. Only IGR for the country self don increase since wey tinubu enter because him don review tax policy which means even more money dey enter government hand from that corner apart from crude exportation and it increase.
After COVID 19, in early 2022, crude oil price had increased significantly and had gotten to over $100. Since 2015 till today 2024, Nigeria economy has been so bad. In 2022 to this time 2024, standard of living and Nigeria economy has become worse more than before. So there is nothing new about crude oil price increase.
it is interesting to know that per per-barrel price has increased from $75 in December 2023 to a precedent-high of $86 as of today. Although oil prices fluctuate due to global reasons but this increase reflects government expectations for positive impact for the economy and achievement of CAPEX(capital expenditures) due to the increase in revenue from the oil proceeds.
https://punchng.com/oil-earnings-rise-by-n450bn-in-two-months-says-fg/?amp
https://punchng.com/oil-earnings-rise-by-n450bn-in-two-months-says-fg/?amp
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