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Alibaba Advises FG On Crude Oil Sales

Veteran comedian Alibaba is dishing out some helpful tips to the Nigerian government on how to manage crude oil production as well as make profit.

The lack of production of by-products from crude oil and importing the oil in its raw state will definitely cause a loss at the end of the day even though the price has risen from $30 per barrel to $85 per barrel.

Check out his write up here…

From below $30 per barrel, to $85 per barrel can ordinarily mean more money for Nigeria, but no it doesn’t. That is why we were plunged into debts by the previous administration. There is a cost dynamics that comes with Nigeria making more money from crude oil sales. It’s a good thing, to be honest. But when you sell crude, fail to locally produce any by products and import finished products, it means that you will wipe the profits by importation. If the Federal government has any plans to share the excess crude revenue they should just forget it. The funds should be spent on developing projects that will earn us immediate financial gains, as fast as possible. Low hanging fruits for now… while waiting for the other investments to heal the ailing economy. Tourism, Security and exports of food items and cash crops should be prime on government to do list

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