The God of Goodluck is after PMB

Buhari is in for it.

...

I pity Nigerians and her economy cos those at the top have no clue to revive the sinking economy.

Bishops10:

Ok sir

But







The kids will still grow to start from where the so called adults stopped

When the kid grows up, he will then learn to read those things!

Seun:
This means the oil price will drop further since Iran is now free to export their oil to US and all European countries. The naira will also drop.

Choi see suffering for Nigerians o

If APC get sense they should peg the damn budget at $10 per barrel but their sense na to blame GEJ for everything since 1960..
In fact APC will soon blame GEJ for the Nigerian civil war...

9jacrip:



My brother (or Sis) the emboldened is the quandary Nigeria is in.

Let's keep in mind that we have debt on ground needing to be serviced.

Having stated the above, even if we have a govt we can trust to deploy 'borrowed' funds appropriately, the question is where would these funds be deployed to? Recurrent expenditure (which include salaries and non-profit yielding payments)? Or is the govt going to spend the money on projects and expect Nigerians to pay to use the services (a la toll) when the average Nigeria cannot survive on their salary?

Or are we looking at investing in mineral resources and agriculture? Are these two areas enough to bear the weight of Nigeria? I do not think so.

Let's watch and see how Nigeria will manage to survive with its replicated and bloated arm(s) of government.

Scared for my Country.. The dark days re close......... Calculated counter measures need to be taken......

The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start experiencing an undersupply that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

I thought Buhari promised to stabilise the price of oil.

Sigh.....smh

passionate88:
Buhari is in for it.

Seeing zoogerian currency going at N1000 against US dollar. A welcome development

Movesz:
NOW THEY CAN ANNA NIGERIA WITH NUCLEAR bomb.

and why would 'they'??

cee why wee all need to go bak to farmin abi
smh sm group of ppl shud keep screamin "our oyel"

If Iran starts selling, what hope does the world at large has? We need to prepare for the worst as it is

The Lord that answerth by fire..... He will be my Lord.

Best news since 2016, I hope it plunges down to $5 per barrel so my joy will be complete.

Please let us not derail this thread

Avoid it if you dont have any intelligent contribution

omenka:
Very bad news for oil dependent economies, worst of all Nigeria since we refused to save enough to use as buffers under such a situation.

Now Iran would flood the IOM with its crude driving oil prices even lower- I foresee it dipping below $10pb.

The word you are looking for is diversify.

ladyF:
The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start experiencing an undersupply that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

Isn't that what we are all wishing for? If only wishes were horses

ladyF:
The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start experiencing an undersupply that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

If oil supply is low then the price should be higher.
What the world oil market is facing is an over supply and it may get exacerbated if Iran decides to even export more.

Re you for real! Sigh smh

Pidggin:
The God of Goodluck is after PMB

tensazangetsu:

Isn't that what we are all wishing for? If only wishes were horses

...if wishes were horses...I will be riding one too myself

ladyF:
The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start [b]experiencing an undersupply[/b]that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

Undersupply when the US is aggressively pushing the shale to the world and has started exporting?

ladyF:
The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start experiencing an undersupply that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

Oil production is far from being shortened,It would get even worse once America develops a technology to explore their shale oil at a cheaper price. While it is true that oil price might still rise,it is important to note that the world is looking away from oil to cheaper sources of energy,trust me oil might never go back to its days of $70+ per barrel.

9jacrip:


I read somewhere (I can't recall) that the U.S is mostly responsible for the nosedive of crude oil (with the severe push given to shale). I suppose having been able to sink the price of crude oil to a considerable 'low', this move is in order to throw the knock out punch which will then see oil price sinking to as far as $10 if not below.

The 'likely' eventual but slow end of oil dependent states.

That makes no sense. The U.S has oil and have recently stepped up oil exploration which means they don't need to buy as much as they used to. Also, they've scaled down their wars. It's simple economics bro. When demand is down, price will drop.

Observant:
The Lord that answerth by fire..... He will be my Lord.

Best news since 2016, I hope it plunges down to $5 per barrel so my joy will be complete.

Ase!

Infact to $0.99 a barrel

My people brace up for all manners of taxation and government extortion in the form of levies, fines e.t.c.

Venezuela economic already in crisis,we should get prepare for the worst.

kobonaire:


If oil supply is low then the price should be higher.
What the world oil market is facing is an over supply and it may get exacerbated if Iran decides to even export more.

the low prices is driving a lot of companies out of business. A lot are making losses, no new exploration. At the end of the day, with this current prices, it will get to a point where a lot of people will stop production because it is not sustainable, hence supply will certainly fall.

The truth is the low oil prices cannot last forever. Everybody is bearing the brunt, big & small companies inclusive. It is just not sustainable.

omenka:
Well, I would have been all for the temporary fall in oil prices as is currently being witnessed for reason that it would give our government the impetus to diversify our economy and once and for all, put an end to this single commodity based economy.

But previous governments never had the foresight to sufficiently save forex upon which we could fall back when the need arises. Same savings we would have used to invest in other profitable sectors especially agriculture. As things stand, we don't have all the money we need to do so, not even sure we have half of it, yet the price of oil continues its downward spiral.

I have no idea how else to fix this problem than borrowing, which means further plunging the economy into debt. Our only saving grace is that we have a government we can trust to deploy borrowed funds appropriately- it is the most critical index that would decide what becomes of our economy/country after borrowing.

God help us.

You mean deploy the borrowed funds to update a website for N795million? I see why you can trust them then. Must be seonethimg to do with Aisha's rice

ladyF:
The oil price would certainly come back up, it's not the first time we are seeing a nosedive like this. World supply is getting shortened as some production facilities have been shut. It's only a matter of time before the market would start experiencing an undersupply that will drive the prices up eventually. Simple economics!!!!

[size=15pt]LadyF[/size] is here again

Wishful thinking. I hope this government is not seeing things this way