Oil price tops agenda as Buhari meets Saudi, Qatari leaders

President Muhammadu Buhari in UAE

Worried by his country’s dwindling fortunes amidst the low price of crude, Nigeria’s Muhammadu Buhari is set to meet his Saudi and Qatari counterparts.

President Buhari will begin a week-long official visit to Saudi Arabia and Qatar on February 22, his spokesperson, Femi Adesina, said on Sunday in Abuja.

Mr. Adesina said the President would first fly to Riyadh for talks on Tuesday with King Salman Bin Abdulaziz Al Saud and senior officials of the Kingdom of Saudi Arabia.

Mr. Buhari will be accompanied on his visit by his petroleum minister, Ibe kachikwu, a former top executive of Exxon Mobil and current Group Managing Director of the Nigerian National Petroleum Corporation, NNPC.

Achieving a greater stable price of crude oil will top the agenda of discussions, Mr. Adesina said, as OPEC and non-OPEC oil producing countries seek ways to get more money for exported crude.

Last week, officials of Saudi Arabia, OPEC’s largest oil producer, met with their counterparts from Russia, Qatar, and Venezuela where they agreed to freeze production at January’s level if other oil producers agree.

Analysts have mentioned oversupply of crude as one of the reasons for the huge drop in crude oil prices to about $30 per barrel from over $100 last year.

“Crude oil prices and market stability will also be on the front burner when President Buhari goes on to Doha on Saturday for talks on Sunday with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani,” Mr. Adesina said.

“The President is also scheduled to meet with leading Saudi and Qatari businessmen in Riyadh and Doha, and invite them to support his administration’s efforts to revamp the Nigerian economy by taking advantage of the great investment opportunities currently available in Nigeria’s mining, agriculture, power supply, infrastructure, transportation, communications and other sectors.’’

The statement said Mr. Buhari’s other engagements in Saudi Arabia included meetings with heads of international financial organisations and multilateral associations.

It stated that before going on to Doha, the President would visit Medina and Makkah to pray for greater peace, prosperity and progress in the country.

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  • Oil Watch

    Editor Premium Times,

    PRESIDENT BUHARI has slender chance of success here. For uncanny coincidence the interests
    of both Iran and Saudi Arabia converge on maintaining current production levels, partly to hold off
    rival shale oil producers. By talking to Saudi Arabia, as President Buhari endeavours, is some form
    of one-sided diplomacy, it can’t work, since Saudi Arabia can’t in turn persuade Iran to just accept
    to cut its modest production level of 600,000 barrels of oil per day. Looks like a wild goose chase!

    • Bob

      Saudi’s should cut to make for Iran. They took their quota and everyone knows this. Shameful conduct on their part.

      • Shehu Alhaji

        I wonder why some people they can’t even thinking as a normal human being, you have to look and thinck how Nigeria is been before Buhari take over, you have no even certainty of your live, bombing and shooting any where, no security no low and order, a lot of corruption everywhere, you can only enjoy if your eyes has a black ring or you have long leg, because ticket is already a waiting you to fly to abroso for honeymoon so I think the rising dollar is more appropriately than rising bomb.

    • TAWANDA INCOMMUNICADO

      Russia can persuade the Iranians .

  • Bob

    Won’t matter. Saudi’s only care about wahhabis.

  • TAWANDA INCOMMUNICADO

    The price of oil will not change because of this jamboree,the Petroleum Minister should be deliberating on pricing and production with his counterparts in OPEC. This visit is more like an Islamic solidiarity jamboree undertaken while the Nigerian economy and other issues of more importance are crying for attention in Nigeria.

    • Sparzo

      You are even more daft than I thought, if you think the price of oil and the fact that there no
      immediate end in sight to its instability is, not serious enough for the president to take charge.
      Pray what is more serious than the fast falling revenue in a mercilessly looted treasury?

    • persona

      How low can you go?
      Rusia, Saudi, Venezuela all met in Qatar to negotiate an action plan to get oil back up and those are the first 3. Nigeria is 5 or 6th largest producer and in your mind you suppose we don’t have a say when it will benefit us?
      Abeg leave drama and think positively abegi.

  • Imam Olodo

    Chei! Wahala dey o! (There is serious Problem)

    Buhari cannot even pose properly for a photo session. Look at his miserable haggard looking face. Looking confused, tired and certainly Wascless. Any one looking critically at his photo will agree with me that he looks like a Secondary school student looking for his missing certificate. Look at his trouser and Coat abi na Jacket or Suit. Everything looks awkward and miserable. No wonder Nigerians are all looking miserable and hopeless. No fuel. No salary. No light. No security. No water. Even natural rain has refused to pour. Meanwhile, he is Budgeting and hoping to collect rents for Aso Rock that was built with my oil money – The oil money of the people of Biafra and the Niger Delta.

  • Etukudoh

    In just less than 8 months in office Buhari has visited all the Islamic Republics in the world – Sudan, Iran, Iraq. Egypt, Saudi Arabia, Niger, Chad, Pakistan, Oman and now Qatar. Is Nigeria now an Islamic republic? Of what benefit is visiting these countries? Is Buhari making Nigeria an Almajiri (beggarly) nation? Nigerians are finished.

    One would have expected concentration on industrialized nations so that Nigeria can tap from their science and technology and research. This visiting of countries with research institutes in beheading and sharia laws will not benefit Nigeria. This is common sense.One needs no certificate to apply common sense.

    • Rommel

      Also visited France twice,USA,Ghana,Cameroon

      • TAWANDA INCOMMUNICADO

        Can you please ask him to forget about these jamborees and settle down to govern. So far none of these “Ajala” trips have made any impact on the economy.

        • Sparzo

          Thats why he is in Saudi Arabia and Qatar. Not so difficult is it?

        • Rommel

          At least we know that he is not ferrying hard currency to outside as Jonathan used to do with 400 delegates anytime he went on foreign trips.

          • Iniabasi Akpan

            Very silly reason(s).v told guys not to complain anymore. This administration will go to where it was destined to be.

    • Sparzo

      Jonathan and the PDP and all sorts of hanger ons,
      visited Israel and Bethlehem enough times to last Nigeria a lifetime.
      Nigeria did not become a jewish state. I doubt it will become a developed country too
      just because Buhari visited Britain, Europe or America.
      I doubt Nigeria will become an Almajiri state in your lifetime at least,
      Meanwhile Buhari will do well to beg these states, for their support against insurgency or/and at least, stabilize the price of oil.

      • TAWANDA INCOMMUNICADO

        Buhari does not want any western leader telling him about his dismal human rights record nor does he want protesters hounding him about hence he concentrates on making friends with equally brutal regimes like the killer regime in Egypt or the beheaders of Saudi-Arabia and the gulf states . Buhari goes to his comfort zone.

        • Sparzo

          So Jonathan and the PDP visited Israel and Bethlehem for Israel’s human rights records?.
          On;y a monster will see any human rights in the state of Israel.

          • TAWANDA INCOMMUNICADO

            Israel is a transparent democracy but they are at war,there are human rights violations both ways ie the Israelis and Palestinians.

          • persona

            Its ok where Israel prevents Palestine to be recognized as a country and yet you say its human rights violations but when the Biafra agitators are stamped down, you say he deserves to be taken to ICC.
            Always stick with the facts, your beef always betrays your contributions.

          • TAWANDA INCOMMUNICADO

            The official Israeli position is a 2 state solution, the modalities however have many sticking points unlike in Dictator Buhari’s Nigeria where talking about self determination is a “shoot at sight” offence

          • persona

            So where did he order a shoot at sight?
            The state governors in the SE came out to make their stands clear and for your information, they are all PDP governors and under no compulsion to side with Buhari. So where did your shoot at sight info emanate from?
            Tawanda, say the truth always, you are obviously smart but this is getting you to the abyss everytime you make beef drag you below par in any cerebral discuss.

          • TAWANDA INCOMMUNICADO

            The Army boss specifically warned that he had orders to shoot civilians at sight and so far he has killed more than 400 unarmed civilians on different occasions . The fact that they suppress news of these massacres does not mean that the civilised world does not officially take notice of such brutalities.

          • persona

            Publish your facts where the army boss said that.
            Why will they ever say they had instructions to ever shoot fellow country men?
            Even they don’t use such words for BH and they never used it for the pipeline vandals who even committed a huge crime. I have heard every press release and no one ever said anything about shooting any protester in the SE.
            SS and SE governors have said they will clampdown on protesters but the army never said any such thing Tawanda. Its unethical to lie just to underscore a point.

          • TAWANDA INCOMMUNICADO

            As we deliberate on this issue,more than 40 unarmed youth shot at the orders of the dictator and his army boss have their photographs,names,addresses and next of kin in a petition at the Hague,why must you tell blatant lies ? MORE THAN 400 UNARMED CIVILIANS INCLUDING WOMEN AND CHILDREN HAVE BEEN SHOT AND KILLED IN THE LAST 8 MONTHS

          • persona

            as much as I hate the loss of lives, the case can be there and you will see the outcome. The group has gone ahead to hijack ships and they have issued threats and let it be known that once they become violent, the gloves will be off on both sides. You keep counting and while you can go to ICC and make the case, Nigeria will exist and move on. There was no statement saying they will be killed, quit your propaganda. I challenge you to make access to any such or refrain on this matter.

          • TAWANDA INCOMMUNICADO

            The attempt by the dictator’s henchmen to link the hijack of a ship by the SS militant called General Ben to the democratic struggle of self determination of Biafrans have since been rubbished. The Biafran agitators are unarmed and peaceful…and the world knows it.

          • persona

            Rubished? Yet the MASSOB leadership already endorsed they are aligned with the disruption intended by the militants.
            You keep throwing dirt that won’t stick

          • TAWANDA INCOMMUNICADO

            You are the one throwing the “dirt” that will never stick, your song is from the dictator’s manual. “call them terrorists” ,then kill them .

            Of course,if injustice prevails,all sorts will go on the band-wagon to fight the dictatorship.

          • persona

            Which playbook are you using since you “withdrew ” your support for PDP

          • TAWANDA INCOMMUNICADO

            I am first of all a humanist but having a political bias is natural and so democratic .

          • persona

            Good to know you are flesh and blood afterwards. Keep your humanity and stay objective if you can.

          • Sparzo

            You are so out of date. The official Israeli position now is
            no stat for the Palestinians. They keep loosing their lands and people daily.
            The Jewish state of Israel is the only country , whose border keeps changing and expanding daily
            Since 1948 and you know it.

          • Sparzo

            The Jewish State of Israel is as transparent as North Korea
            The Koreans at least admit o having Nuclear power.
            Ot oe a pariah state that has broken and refuse to accept more UN resolutions
            Than any other country. It is a pariah state with extreme right religious cabinet,
            It is a pariah state. It is not at war. It is an occupying power.
            It ruled the occupied via apartheid and inhumanity that is not dissimilar to Nazi,

            Israel does not have human rights for the Palestinians.

        • persona

          Yet he sat in a room filled with 28 EU leaders and was in the UK after Kerry endorsed him at Davos,
          Bros find another logic. That one is dead on arrival. I have told you, its ok not to like Buhari but stop twisting obvious facts.

          • TAWANDA INCOMMUNICADO

            They also complained about the human rights violations of this administration and a thousand Biafran agitators also demonstrated at the EU HQ about the killing of unarmed protesters.

          • persona

            How come no one heard of that? Quit all these stories. We all watched and followed happenings and those who went there did ridicule themselves as no one heard them if at all they were there.
            You have changed from he cant go there to he did went and some obscure protest nobody heard of. The truth will make you free.

          • TAWANDA INCOMMUNICADO

            You can only hear what the compliant Lagos press wants you to hear.

          • persona

            What makes you think you have the monopoly of information?
            What makes you think I am not more informed than you are with regards to happenings?
            I take more in because I have an open mind. You have left Nigeria for Israel and do I come across as though I don’t have a grip of world views to you?
            Guy, please scale up you capacity to be objective, you need it.

        • Tamuno-Opubo Cookey-Gam

          yet he’s visited France, US (officially) & UK (after elections).

          Plus Commonwealth, UN, etc

      • Burning Spear

        This was the fourth time in a row that he Buhari run for Presidency of Nigeria and was finally imposed on us by the CIA. Sadly his answers on the economy reveals that in over a decade’s worth of campaigning and struggling to be president, the general and his team in APC, have given no thought whatsoever to formulating even the semblance of an economic plan (or any plan at all) for Nigeria. It also shows that the general might be completely out of touch with what is happening globally with oil prices, which is equally horrifying given that oil has been the lifeblood of Nigeria’s economy for nearly 50 years.

        Since a high of $115 per barrel of oil in June 2014, global oil prices have progressively fallen, with Brent (the price denominator for Nigeria’s benchmark Bonny Light crude) dipping below $50 last week. The West Texas Intermediate had earlier dropped well below $50 per barrel. At the time of writing, the OPEC Reference Basket, a weighted average of prices for 12 petroleum blends from the Organisation of Petroleum Exporting Countries (‘OPEC’), stands at a little over $45.The price decline is down to a complex interplay of political and economic factors which, unfortunately for General Buhari, cannot be resolved by military decree ati the usual with immediate effect Fualni turenchi at OPEC’

      • share Idea

        The difference is that when GEJ was going, he would tell the nation that he was going on a pilgrimage and not hid the reason of his state visit from the citizens as the current president is doing. Nigeria we hail thee

        • Sparzo

          He is a liar.
          Pilgrimage with governors, senator, house of reps, sans, boy friends , girlfriends , hanger ons bankers, SANS and patience? A Pilgrimage is the most religiously personal/private thing a person can do.
          He was going money laundering, in that mother of all human rights violation, violence and ethnic cleansing. This is why we will never be able to recover his loot.

    • persona

      Your list is either deliberately bloated or deliberately a lie.
      He never visited Iraq, Sudan, Pakistan, Oman. He visited UAE and a significant deal was signed BUT you left that out. The reason for going to Saudi and Qatar have been listed and we all were screaming that we want FDI and he is going with the NNPC GMD on both state visits and yet you don’t appreciate that.
      The present drive with the economy is fixing the leakages which you may have realized is very essential so that funds are not looted or re-looted as the case may be. The Saudi economy is operating a $200B budget deficit and the whole budget in Nigeria is nowhere near the deficit and Qatar increased pump price by 30% weeks ago. You guys think its a Buhari issue, the whole world is having same issues. The Venezuelan Bolivar was devalued for medicine, food and essentials on this $1=6-10Bolivar, at the black market, its $1=1000 Bolivar.
      Saudi, Iran, Qatar, Russia, Venezuela all met in Qatar last week to agree on cutting supply to help the cost of crude and yet you may know that Nigeria is number 5-6th largest producer and you think that we don’t deserve to be part of the groups making the decision in such a way that the cost of crude will help our economy?
      Guys just be objective as its our country, you may not like Buhari and that is fine but for the country’s sake, be open minded, learn global politics and economics and have a balanced view as against skewed talks like what you just tried to push out there.

      • Harry

        What’s the difference between those mentioned countries and the countries Buhari has toured so far?

        • Right Minded

          I wonder o. help me ask am

        • Tamuno-Opubo Cookey-Gam

          Germany. USA, UK, France

        • persona

          The difference is that he deliberately lied to make a point and even in legal context, once you discredit your testimony, it becomes totally invalid.
          The countries the man visited in the west were excluded just to paint an Islamic taint which is rather evil.

      • Boni

        FYI, Nigeria is ranked 169 in world economies. Buhari has no influence over stabilizing the current oil prices.He will make no impact and point of correction Nigeria is currently number 13th in world oil production; source- International Energy Agency (IEA) 2012 report. Therefore Buhari should concentrate on creating economic strategies to address Nigeria political and economic problems.

        • persona

          so did those countries tell you he is not invited or he forced himself upon them?
          Are you aware they sent their ambassadors during his swearing in? You guys don’t have full picture of happenings and yet accuse another. They have told you his itinerary and its up to you to deem it proper or not, your advise is noted.

  • Otile

    In other for Nigeria to industrialize Nigeria should do like China. At first Chairman Mao banned all imported goods, cut
    ties with predatory foreign market forces, shunned borrowing money from
    World Bank, killed all coupists and ex-coupists, hanged all known
    corrupt officials, made education free for all citizens, rewarded
    scholars specializing in science and Math. He then looked inward,
    promoted unity and justice for all, checked religious extremists,
    abolished polygamy, checked excessive population growth, and emphasized
    nationalism.

    Today China is self-sufficient, 2nd most powerful
    economic power in the world. Here in the Republic of Nigeria Buhari is
    a non-starter. He is not doing anything useful to mankind. He is
    nepotistic and anti-science. His policies are not the way to develop a
    nation.

    Don’t get me wrong, I do not hate Buhari. The problem
    is that he does not know any better, his advisers and appointee do not
    know any better either. There are many Nigerians from every zone who
    can move the country forward, but such people are often ignored or
    clamped down by the corrupt forces.

    • Atunde Adeola Yusuf

      between 15million- 40million people died of hunger during the Chinese reforms under Mao Zedong, what happened during the communist/cold war era can not take place in today world anymore, Nigeria needs all the corporation in the world to succeed. we all all complaining that dollar is 350 today, if buhari does what you are aski9ng of him we may be changing it 4 10000 ooo.

  • IZON Redeemer

    (Social media has been awash recently with the statement credited to General Muhammadu Buhari, the presidential candidate of the All Progressives’ Congress (APC) that one of his first steps in Government will be to stabilise oil prices.

    Several memes have emerged online mocking that promise. In one of the more hilarious ones, several presidents are seen laughing at the ludicrousness of it all, with Obama asking ‘you be OPEC?’

    The problem with setting up a former general as presidential candidate in the age of social media is that throwaway comments that would or could not be questioned when the general was in his pomp are now open to detailed scrutiny. Given that he can no longer deal with the evisceration of his views by jailing the commentators like he did then journalists, Tunde Thompson and Nduka Irabor, the general must be at a loss as to what is going on.

    He will find much to his surprise that he must now justify his statements and actions, logically and persuasively, or perish in the democracy of free expression. He will find that he has to gird his loins intellectually and at least justify his claims to that alleged diploma; otherwise the remainder of the campaign will prove to be an even steeper uphill battle in which the masquerade will be found dancing naked in a market square of ideas. Jokes around ‘General Butt Naked’ (drawing on the pseudonym of the notorious Liberian warlord) do come to mind but this is neither the place nor time)

  • Burning Spear

    This was the fourth time in a row that he Buhari run for Presidency of Nigeria and was finally imposed on us by the CIA. Sadly his answers on the economy reveals that in over a decade’s worth of campaigning and struggling to be president, the general and his team in APC, have given no thought whatsoever to formulating even the semblance of an economic plan (or any plan at all) for Nigeria. It also shows that the general might be completely out of touch with what is happening globally with oil prices, which is equally horrifying given that oil has been the lifeblood of Nigeria’s economy for nearly 50 years.

    Since a high of $115 per barrel of oil in June 2014, global oil prices have progressively fallen, with Brent (the price denominator for Nigeria’s benchmark Bonny Light crude) dipping below $50 last week. The West Texas Intermediate had earlier dropped well below $50 per barrel. At the time of writing, the OPEC Reference Basket, a weighted average of prices for 12 petroleum blends from the Organisation of Petroleum Exporting Countries (‘OPEC’), stands at a little over $45.The price decline is down to a complex interplay of political and economic factors which, unfortunately for General Buhari, cannot be resolved by military decree ati the usual with immediate effect Fualni turenchi at OPEC’…

  • Lanre

    Nothing comes free from these Wahhabi/Sunni, Al-Nusra, terrorist supporting countries of the middle-east. Does Buhari speak Arabic? Or is it by just reciting Assalam aleikum, warramatulahhi, warabakatuhu; that he hopes to get investments? Congratulations to APC, Tinubu, Lai Mohammed and Raji Fashola for foisting this religious bigot on Yorubas. Meanwhile the Islamic North is negotiating for loans from the Islamic Development Bank and the Saudis. Yorubaland will remain strong and undivided inspite of the machinations of the evil and devil against our peaceful, harmonious co-existence.

  • Dr.Dan

    Another trip again ? This man is not serious. This is problem with African leaders when they get power they get carried away with Luxury and forget how and why the got there. How can a president spend 21 days out of the 29 days of February abroad? When the economy is in shambles.I’m sure his advisers are not telling him that the economy is collapsing. He should know that time is ticking if he continues like this come 2019 he will have nothing to campaign with. The same Nigerians that voted him in can as well vote him out.

    • MushinSpeaks

      It is you that remain unserious. Is he going to merry in these countries? You think by sitting down here things will get shape? He is applying the right method and with time, economy will adjust back to normal.

      • Right Minded

        Your names speak for you. You actually think with a mushin-gutter mind.

      • emmanuel

        so Obama is everywhere in the World?
        Producers will get Countries to export to if production capacities are enhanced and greater awareness driven. A President cannot go and convince SMEs in other countries to buy from his people.
        He must stay back home, work with CBN, Agric Min, Solid Minerals to ensure fast track improved production and export and that was how China grew. Not by stopping over in every country to tell them,”you see were fighting kwuroftion in in our kwentry, Flease support us”
        That is absolutely nonsense in the twenty first century.

  • Right Minded

    We are no fools! We know the reasons why this man called Buhari is visiting strong Islamic countries. We also know that Buhari is indirectly killing western investments in Nigeria thereby making ways of Islamic countries to come invest in Nigeria. When we said Buhari was trying to Islamise this country, many gullible moronic minded Nigerians called us names and said he meant well for Nigeria. Can you now see what we were talking about? First it was Sudan, then Iran, Egypt, UAE, now Saudi Arabia and Quwait. We are all watching…Lets see how these agenda will materialized.

    • kevenreal

      He’s going for prayers for Nigeria. This talk about oil price is bullsit.

    • emmanuel

      Adeboye and Osinbajo said they knew how to handle Buhari? When those nations gain foothold, they would take over fully and foist the jihadist on the Oil producing areas so they can fully taker Nigeria.
      You got it, the signs are ominous!

  • 9JA IS DYING DEAD UNDER BUHARI

    During his visit to Saudi Arabia, President Muhammadu Buhari will hold a special prayer for Nigeria in Mecca.

    Femi Adesina, special adviser to the president on media and publicity, announced the president’s trips to Saudi Arabia and Qatar in a statement issued in Abuja on Sunday. “Before going on to Doha, the president will also visit Medina and Mecca to pray for greater peace, prosperity and progress in Nigeria,” the statement read.–Just imagine for a second what Buhari plans to do while in Mecca-pray so that the relations of Jonathan will not be murdered again by his Gestapo abi?

  • 9JA IS DYING DEAD UNDER BUHARI

    This was the fourth time in a row that he Buhari run for Presidency of Nigeria and was finally imposed on us by the CIA. Sadly his answers on the economy reveals that in over a decade’s worth of campaigning and struggling to be president, the general and his team in APC, have given no thought whatsoever to formulating even the semblance of an economic plan (or any plan at all) for Nigeria. It also shows that the general might be completely out of touch with what is happening globally with oil prices, which is equally horrifying given that oil has been the lifeblood of Nigeria’s economy for nearly 50 years.

    Since a high of $115 per barrel of oil in June 2014, global oil prices have progressively fallen, with Brent (the price denominator for Nigeria’s benchmark Bonny Light crude) dipping below $50 last week. The West Texas Intermediate had earlier dropped well below $30 per barrel. At the time of writing, the OPEC Reference Basket, a weighted average of prices for 12 petroleum blends from the Organisation of Petroleum Exporting Countries (‘OPEC’), stands at a little over $30.The price decline is down to a complex interplay of political and economic factors which, unfortunately for General Buhari, cannot be resolved by military decree ati the usual with immediate effect Fulani turenchi at OPEC and Saudi Arabia’..

    • thusspokez

      This was the fourth time in a row that he Buhari run for Presidency of Nigeria and was finally imposed on us by the CIA.

      Seriously?

      You do a great disservice to the rest of your comment, given that the remaining parts sound reasonable.

      The price decline is down to a complex interplay of political and economic factors

      Blame Saudi Arabia fixation and belief that it can bankrupt US shale oil companies by flooding the oil market. A nonsensical strategy which would only make sense if oil price continues to remain low, otherwise once it rises again, the US shale oil companies will be back into the market.

      • excel

        you are pathetic. Nigeria rejected you, your clueless master and the pdpig. To pave way for PMB to salvage the nation from the illness that befall her under the people destructive party. get that into your empty skull

        • thusspokez

          Anyone who reads your comment could only conclude that you lack an understanding of the English language. How could any literate person read my comment and then call me a member of the opposition party. I blame the Nigerian education system.

    • Prophet

      nonsense.

  • emmanuel

    A man who does not understand what his country’s budget is, is going to tell Saudi that cut her budget by 14 percent and Capital Budget by 26 percent in 2016; to adjust Oil production downward to hurt their budget because of a nation that does not know her bearings?
    Is there any sense in junketing the World in the guise of drumming support for Oil to rebound when you say you are not looking upto Oil for your budget and future?
    Buhari is confused and must not be taken seriously, after his four years is almost done – wasted!
    What has he done with Innoson, Peugeot and Nissan engaged in Local Assembly since he came? How about Rice Growers and Millers? Agree Exporters?
    Will his Tax man collect intestines of Nigerians as tax when they can hardly feed, how much more do business?
    I see a situation where taxmen will get beaten up soon at the rate things are going.
    APC nor get sense!

    • excel

      You are confused pig. If you are this frustrated stay off the internet instead of display of your folly life.

    • Prophet

      ignoramus!

  • Hackervirus

    The country is in a big mess………………………Visit our blog for more news http://elioragistforyou(.)blogspot(.)co(.)uk/

  • Oil Watch

    emmanuel:

    President Buhari does not have a convincing argument to get anything
    out of the Saudis. He will writhe in pain; yes, and say Nigeria’s treasury is
    emptying fast, but that’s not an argument. Buhari bruised Iranians who hold the
    aces here with a supertanker of 50m barrels on Iranian coast. After killing hundreds
    of Shiite Muslims in Kaduna, President Buhari won’t ever get a hearing in Tehran.

    He knows that and that’s why Buhari has not dared to include
    Iran on his travels and tours, but that also means he’s trying to clap with one
    hand in a no-brainer diplomacy, because the Iranians now have the capacity to
    ‘unleash’ that 50million barrels of crude oil into the market and send prices crashing
    to $10 per barrel of crude oil. Without Iran ever willing to agree to production cuts,
    nothing is possible for Nigeria. It’s as simple as that.

    • Prophet

      Stop commenting on issues you don;t understand.

  • We support Buhari’s efforts. But who are the economic technocrats on this tour? We hope that Buhari has a team of experts to address this issue. No dictator can make these decisions.

  • Prophet

    This mission is pointless.
    The Saudi’s and Iranians are at the extreme ends of a divide. A divide that is based on where leadership of the faith should go after the prophet (p.b.o.h) died without naming a successor. Sunni’s believe it should go to the prophets (p.b.o.h) adviser (Abu Bakr) while shiites feel only the prophets (p.b.o.h.) blood relatives should lead (Ali)

    Recently, after Iran agreed to suspend its nuclear weapons program, the UN and US lifted economically crippling sanctions imposed on her (shia Muslims) including the release of over $100 Billion of previously frozen Iranian funds. Obviously, the Saudi’s (Sunni Muslims) were not happy with the new state of events and since Iran’s chief export was oil, the Saudi’s imposed their own style of sanctions by flooding the market to drive down oil price…and are hell bent on keeping prices low for the foreseeable future.

    This punitive measure (although intended for Iraq) collaterally discombobulated the economies of most oil producing countries (including Nigeria) and while developed countries like the US loved the cheaper prices in oil, Nigerians are left ‘suffering and smiling’.

    With this in mind, the only scenario we can envisage where the Saudi’s will increase oil prices is if the prophet himself (p.b.o.h)came down and gave the order.

    • George

      What language this confused president is going to use there.