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Nairaland Forum / Nairaland / General / Career / Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further (20761 Views)
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Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Adesiji77: 8:34am On Jan 04, 2016 |
Fear of massive job losses in the new year (2016) is sweeping through workers in public and private sectors of Nigeria’s economy amidst the continued fall in the price of crude oil which has slid to $37.28 against the Federal Government’s projected $38 in the 2016 budget.http://businessdayonline.com/2016/01/fear-of-job-losses-as-fx-scarcity-persists-oil-prices-crash-further/ lalasticlala, dominique, Mynd44 1 Like 3 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by EternalTruths: 8:43am On Jan 04, 2016 |
Oil is not the only revenue we can trade for dollar Buhari should entrench Fiscal federalism in order to encourage the states to exploit their resources to increase the inflow of dollars. 24 Likes 2 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by PassingShot(m): 8:45am On Jan 04, 2016 |
We shall overcome. Oil is projected to stabilize at $45 to $50 in 2016, so there won't be much additional pressure on budget deficit. Serious diversification of the economy towards agriculture and mining is the only permanent solution to the perrenial problems we have. 8 Likes 3 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by modath(f): 8:51am On Jan 04, 2016 |
PassingShot: Still won't solve the nation's problem...like band aid on a festering gangrene sore!! Mono export economy fa!! The only way to solve Nigeria's problem is to have the capacity to produce What we need, start exporting some & stop depending on imports... 26 Likes 3 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by PassingShot(m): 8:55am On Jan 04, 2016 |
modath:Of course oil shouldn't even have been our only major foreign earners. My comment was in reference to additional pressure brought about by further decline in crude price. 4 Likes 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by theV0ice: 9:00am On Jan 04, 2016 |
EternalTruths: You're 100% correct and i support it. Oil isn't our only resource. Olisa Agbakoba on Channels said as much yesterday. We can't have bitumen in large quantities in this country and be complaining of bad roads. It's a shame. Oil has fallen and we must survive. There are many countries on earth living large without oil so enough of the oily excuses. 13 Likes 2 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by jayloms: 9:01am On Jan 04, 2016 |
I expect a further cut on the expenditures of the presidency and the NASS. State govts should be working with a 'worst case scenario' mentality. They don't need to be told to beef up IGR within their various states. FG must of necessity speed up the diversification process. Agriculture is the way to go here. I really don't know why we import rice still; is our locally grown rice that bad in taste? All these economic hardships we face at the present, clearly shows that we never envisaged a time like this. I certainly hope Nigeria does not belong to the comity of nations with NFA (no future ambitions) 9 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by allthingsgood: 9:09am On Jan 04, 2016 |
May God help us Tho I know Buhari will do his best......Nigeria will surely be great again 2 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 9:15am On Jan 04, 2016 |
PassingShot: This sounds too optimistic. There's more supply in the market. 3 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by PassingShot(m): 9:18am On Jan 04, 2016 |
Activa:Experts analysis. Not mine. 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by nnachukz(m): 9:27am On Jan 04, 2016 |
Everything about this Government is a scam. The minister of finance seems to be inexperience, why should the government peg the benchmark at $38 pb? We are already running into deficit should the budget be passed without amendment. 9 Likes 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by jayloms: 9:45am On Jan 04, 2016 |
PassingShot:Their analysis is not fail proof you know? We must work with a worst case scenario mentality whilst being optimistic for the expected rise in the price. 3 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by eleojo23: 9:46am On Jan 04, 2016 |
We have reached a point in this country where we need to start thinking outside the box. No more sitting down to enjoy free money from oil. The government (federal and state) need to sit up. It is very sad that we are always reactive instead of being proactive. This could have been avoided if we had diversified the economy a long time ago. How the hell did we think we would forever be sustained by oil? Our eyes don dey clear now. 5 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by modath(f): 9:52am On Jan 04, 2016 |
PassingShot: I get your point, something to buy tide the nation over... We shall overcome, distractions from saboteurs & enemies of the state will not stop us from getting to the top. 4 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by miqos02(m): 10:40am On Jan 04, 2016 |
ok |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by lasisi69(f): 10:40am On Jan 04, 2016 |
We are safe 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 10:40am On Jan 04, 2016 |
CHANGE in Oil sector |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Benjom(m): 10:40am On Jan 04, 2016 |
God help Nigeria |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by lielbree: 10:41am On Jan 04, 2016 |
May only those who voted for this scam called change be affected by the economic hardship Nigeria is about to face! It's their fault. 5 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by APCcrimesHD: 10:41am On Jan 04, 2016 |
This bubu is just a bad luck bringer. So many negatives in the news. Backward economic policies, thus leading to backward economy. We need 'real change', not this one. 4 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Segadem(m): 10:41am On Jan 04, 2016 |
The lord is my shepherd |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by pretydiva(f): 10:41am On Jan 04, 2016 |
All iz well..naija will be great again. May we n our household not be affected in dis. Amen |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by tunwumi: 10:41am On Jan 04, 2016 |
I'm immune in Jesus name |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Oildichotomy(m): 10:41am On Jan 04, 2016 |
This is not what is needed. I will prefer the oil dry up. Let the wanksters from the other side of the divide smell the coffee. Nigeria as an economy is run almost completely by oil proceeds. Baba Bubu is hyper about something else. He is still believing that just "blocking the leakages" will make the revenue swell forgetting that even when you block the holes of a bucket that is constantly being bailed without a corresponding water running into it is equal to gworo foolishness raised to power Asorock 5 Likes |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by chynie: 10:41am On Jan 04, 2016 |
where those guys that said they perfer NEPA bill to academic certificate 3 Likes 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Psalm18: 10:41am On Jan 04, 2016 |
2016 willl be tough. Things will start looking up by next year 2017, if the budget is passed and the various projects are judiciously executed. On a personal level- don't spend on girls like before Before you go on a date ask her if she willing to split the bill Save- cut down on buying for buying sake. We might be entering a recession..government must give confidence to the citizens and the markets (formal market I mean)by giving out positive pronouncements not reminding us every time that things are tough. Nigerians are not idioots..we know things are tough. In recession is also when some wise investor and investment pay off. The wise will understand. If you have saved cash and have assest: now is the time to put it to use. Access soft loans from CBN if you have a good business proposal but its wiser to go as a group not individual. We still run business as one man idea. You cut down on risk more by spreading across: profit might also be less but still better than been jailed for defaulting on loans. In recession, is time to look at acquiring other skills,-jobs like IT, energy provider(solar panels technician) medical and lecturing will always be in high demand. Now is a perfect time to start a Church Dont buy shares except for long term investment. Invest rather in treasury bill- the reward are not much but the risk is less. No more COT on banks charges from January 1, which is good news. If you transact in bulk- go to your banks and negotiate benefits. Squeeze them by the ball Since CBN has proscribed COT. Banks are greedy, they will look for new ways to rip off customers. 11 Likes 5 Shares |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by bright007(f): 10:41am On Jan 04, 2016 |
ok |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by joseph1832(m): 10:42am On Jan 04, 2016 |
Em can someone kindly tell me how the crash of oil price will affect that danfo driver or that woman selling tomotoes in oshodi market or even that mechanic or that agbero collecting owo load ati owo booking in bus stops? |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Mutuwa(m): 10:42am On Jan 04, 2016 |
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