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Is The Falling Price Of Oil A Disaster? by jordanice007: 1:37pm On Nov 18, 2014 |
The falling price of oil is an omen of discomfort for many countries, particularly the oil-dependent countries. And with about 80 percent of its earnings from oil, the Nigerian Government has started to unveil policies that will help to cushion the effect of the global oil crises. Are the measures announced by the FG enough to ensure that the common man does not feel the impact of the price decline? What are your thoughts? |
Re: Is The Falling Price Of Oil A Disaster? by thelegalpundit: 2:20pm On Nov 18, 2014 |
This is definitely not good news for Nigeria. With the price of oil slowly taking a nosedive, its only a short while before we run into serious problems. I think the FG should do more than just applying austerity measures (e.g Placing special tax on luxury goods... etc). They should concentrate on making other sectors of the economy work. As big a country as Nigeria, we cannot rely on just oil as the mainstay of our economy. The question is, what will become the fate of the "common" Nigeriian when the Govt goes ahead with its many austerity measures? |
Re: Is The Falling Price Of Oil A Disaster? by jordanice007: 1:29pm On Nov 19, 2014 |
thelegalpundit: Hmmm Just hope we get out of this |
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