Crude Oil Price Could Fall To $20 In 2016 – IMF - Business (3)

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Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Horlawale1(m): 7:52pm On Dec 26, 2015

GOD PLEASE PUNISH EVERYONE OF OUR PAST LEADERS THAT LED US TO THIS PRESENT POSITION WE ARE IN NIGERIA. NOT LEAVING OUT EVERYONE OF THEIR FAMILY THAT SPEND OUT OF THE MONEY. (AMEN) (ASE).

WEEPING FOR MY COUNTRY NIGERIA. BUT SINCE I CAN'T HELP FOR NOW ALL I COULD SAY IS.....
GOD BLESS NIGERIA.........

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by muyiwadavid(m): 7:52pm On Dec 26, 2015

We Nigerians shouldn't allow the fear of unknown to kill us before our death,one thing is certain when we get their we will cross the bridge

1 Like

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by olutunde12(m): 7:53pm On Dec 26, 2015

[quote author=Bevista post=41320869]If oil drops to $20 next year, there would be dire consequences on the economy.
---
(1) Oil revenue will drop from N820bn to under N500bn
(2) Tax Revenue will drop by a significant amount - since PPT and CIT of oil companies contribute a lot to Tax
(3) Foreign Reserves will drop under $25bn
(4) Naira will collapse to around N300/$
(5) Budget deficit will either increase or govt won't be able to implement it's budget.
(6) Many states will not be able to pay sala

Your sentiment is noted. But buhari ruled this nation when pdp was not existing and oil price was superb, did he diversify the economy? You people are just trying to prove your old cargo right but even nature is working against you. Everything going down since he took over.

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by watchindelta(m): 7:54pm On Dec 26, 2015

waiting dey pain me be say d thing no go affect our politicians because dey don the thief welwel. let citizens continuing crying because some dey fight 4 d politicians self. mchwwww

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by yerokunphilips: 7:57pm On Dec 26, 2015

ONLY JESUS CAN SAVE .

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Adminisher: 8:02pm On Dec 26, 2015

[quote author=olutunde12 post=41367868][/quote]

Yes he actually diversified the economy or tried to. Local manufacturing was booming during Buhari regime with imports and smuggling completely curtailed. He also tried to keep the local currency stable and we were gradually paying all debts. Buhari 's policies are the kind of things making India successful now.

One interesting thing, all the current refined products infrastructure ; fuel pipelines, landing jetties, refineries and petrochemical plants were all done by military regimes ; Gowon, Murtala, Obj, Buhari /IBB with Buhari as petroleum minister and Head of state cumulatively 10years in sensitive position.. Nothing has been added since then by civilian regimes and Goodluck had six years selling oil at USD124 per barrel

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by emmanuelpopson(m): 8:05pm On Dec 26, 2015

Why depends on oil when there is the mining, agricultural sectors to pull cash from.... its the ineptitude of past.leaders to used revenue derived from oil to.develop other areas of the economy .. 2016 shall be the year biblical Joseph dreams come to fulfilment and only the wise,prepared minds will survive...
Let all return to the oldest profession- Agriculture..

God bless Nigeria

1 Like

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:08pm On Dec 26, 2015

Adminisher:

Nigeria has free USD20bn coming every year from diaspora . Nigerians working abroad are now contributing more than oil for the first time in 50 years, so any stupid Niger Delta youth still shouting our oil, our oil should wise up real fast real hard.

This is the year to get out of the stupidity business. Laziness, corruption , slackness, lack of resourcefulness....they are being purged from us by God himself not Buhari.

What do you mean by free USD20 billion from diaspora.. are you talking about Money Transfers or Direct Investment in critical sectors by Nigerians in Diaspora.. please educate me. this is interesting

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:10pm On Dec 26, 2015

we would have stopped exporting oil by then,Niger delta and biafran agitators go rest

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by segcymoor(m): 8:10pm On Dec 26, 2015

Nawao

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Adminisher: 8:11pm On Dec 26, 2015

amunkita:

Yes India is going to grow but u re forgetting America re yet to commercialize their oil, Iran is there with Millions of Metric tones of crude re have stored since the Sanctions on them.

Saudi/UAE are ready to fall the crude price to expand its customer base which will not be favorable to Nigeria since our production cost is quite high..

I don't think Nigerian oil will ever sell below USD 35 a barrel.
We have medium term contracts based on some price band guarantees plus discounts with India, China and even some African countries. On the spot market, the price may touch USD 20 per barrel a few times but that does not mean much. ISIL is selling looted oil at USD10 per barrel but in the next one month all those fields would have been bombed out of operation.

1 Like

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by heniford(m): 8:11pm On Dec 26, 2015

See it will affect every member of you family and friend we are talking of unemployment talk more when this happen govt will be force to cut down labor private company will follow suit and at the end crime will shoot up next year oh! God what next the best we youth could do its seat up start thinking how to invade Africa with creativity and start exporting things and buying local made goods in nigeria full that's just the way out and govt should create free asses to exporting good and registration of business in nigeria we will bounce back by this its no more party issue its all about us.

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:12pm On Dec 26, 2015

by then oil would have become our least exporting commodity, it ripe for Nigeria to switch back to agriculture

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:15pm On Dec 26, 2015

the oil boom era was a total waste,it was Corruption infested and only few benefited from it,we are gradually coming back to our senses as a nation

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Adminisher: 8:17pm On Dec 26, 2015

voltron:

What do you mean by free USD20 billion from diaspora.. are you talking about Money Transfers or Direct Investment in critical sectors by Nigerians in Diaspora.. please educate me. this is interesting

Money transfers (remittances) into Nigeria from Nigerians working abroad is USD 20bn per year and increasing.
That is a lot of money coming in.
Nigerians multinationals like Dangote, UBA, Zenith and SLOK are also remitting.
If we stop looting and keeping the loots abroad this is a net inflow of foreign exchange and Naira value will appreciate on that alone.
If the FG uses special interest rates or certificates of deposits to target those funds we are looking at three times the current values. We would need to do that soon because the US and Europe are already trying to increase interest rates.

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by akpananiefiok(m): 8:20pm On Dec 26, 2015

Cutehector:
I wish i studied agriculture

me too

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by primeache: 8:23pm On Dec 26, 2015

all those claiming bubu should not be blamed are either a joker or fooliish or invariably children. is the bubu not one of the past leaders? is he not aware of the present situation before claiming to be messiah?

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by greatiyk4u(m): 8:25pm On Dec 26, 2015

EternalTruths:
Buhari should have pegged the benchmark at $20 and keep any extra for 2017 Capital Projects

Because if this prediction becomes real, we might end up in an economic crisis.

Borrowing money to finance Capital Projects in a nation like Nigeria whose citizens are corrupt minded might cause Buhari a stroke if these saboteurs divert the money.

Buhari should study his subordinates in 2016 before borrowing.

A wise leader should be patient enough to know the Judas in his ranks.

Ignorance I guess.

1 Like

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by juman(m): 8:26pm On Dec 26, 2015

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by juman(m): 8:29pm On Dec 26, 2015

udeagbalaC:
the oil boom era was a total waste,it was Corruption infested and only few benefited from it,we are gradually coming back to our senses as a nation

You are right.

The oil boom were mismanaged. IBB, obasanjo, and jonathan.

2 Likes 1 Share

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Akaujaa(m): 8:35pm On Dec 26, 2015

This would be a blessing in disguise for Nigeria in particular. It would afford us the opportunity to diversify the economy. That's if our leaders would be so wise and focused to see the opportunity.

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:36pm On Dec 26, 2015

dearpreye:

Some kind of a huge blessing in disguise. We all knew it was a question of time before Nigeria paid for its decades of visionless, incapable, wasteful and lazy leadership. This is just the beginning.

I will be the happiest man if oil is sold at $1 .. chai .. praise tha lord o.. Can someone Praiz Jehova for me . The Lord they answer our prayer.. Oil is a curse To Nigeria in Particular Niger Deltans.. i really don't care if they sell oil for 30Cent.. not my biz..

May God judge our greedy leaders.. From APC to PDP all are criminals. i pity the likes of Truckpusher, Omenka , Tonyebarcanista who keeps depending those greedy politician.

May God bless You all

Truckpusher come and see good news

5 Likes 2 Shares

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:38pm On Dec 26, 2015

udeagbalaC:
the oil boom era was a total waste,it was Corruption infested and only few benefited from it,we are gradually coming back to our senses as a nation

must u blame GEJ ?.. u re indirectly blaming him.. sheybi APC promise heaven and earth.

Nigerians re watching

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by drberry(m): 8:39pm On Dec 26, 2015

olalat:
This tread is not for people like you.its far beyond your iq. Just shot it ok.

What do you mean? Mr. high IQ!!

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by COOLCATS: 8:39pm On Dec 26, 2015

For me, the best solution is to stop all imports. This will strengthen the worth of Naira, indirectly affects the economy of the export countries. OPEC and non-OPEC countries will then come to terms.

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:41pm On Dec 26, 2015

Horlawale1:
GOD PLEASE PUNISH EVERYONE OF OUR PAST LEADERS THAT LED US TO THIS PRESENT POSITION WE ARE IN NIGERIA. NOT LEAVING OUT EVERYONE OF THEIR FAMILY THAT SPEND OUT OF THE MONEY. (AMEN) (ASE).

WEEPING FOR MY COUNTRY NIGERIA. BUT SINCE I CAN'T HELP FOR NOW ALL I COULD SAY IS.....
GOD BLESS NIGERIA.........

do you know y i don't like you lot on NL.. u keep blaming everything on our past leader .. so is buhari a saint.. shove ur ApC or PDP in ur pocket.

By the time Nigerians re ready for change we will get it.. by then every body will speak with 1 voice..

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:43pm On Dec 26, 2015

Goodboiyy:

I will be the happiest man if oil is sold at $1 .. chai .. praise tha lord o.. Can someone Praiz Jehova for me . The Lord they answer our prayer.. Oil is a curse To Nigeria in Particular Niger Deltans.. i really don't care if they sell oil for 30Cent.. not my biz..

May God judge our greedy leaders.. From APC to PDP all are criminals. i pity the likes of Truckpusher, Omenka , Tonyebarcanista who keeps depending those greedy politician.

May God bless You all

Truckpusher come and see good news

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by buJu234: 8:51pm On Dec 26, 2015

There's hope if only the government will focus on the downstream instead of exporting crude oil why not tell private sectors to build refineries all over Nigeria; buy the Nigeria crude oil either at international price or discounted price.

Then start exporting refined crude oil products like petrol gas petrochemical products etc; then tax them.

I bet u will see the economy explode overnight.

All the major IOCs are reporting profits from their refineries now even though they 're at lost in the upstream sector

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by TonyeBarcanista(m): 8:54pm On Dec 26, 2015

Goodboiyy:

I will be the happiest man if oil is sold at $1 .. chai .. praise tha lord o.. Can someone Praiz Jehova for me . The Lord they answer our prayer.. Oil is a curse To Nigeria in Particular Niger Deltans.. i really don't care if they sell oil for 30Cent.. not my biz..

May God judge our greedy leaders.. From APC to PDP all are criminals. i pity the likes of Truckpusher, Omenka , Tonyebarcanista who keeps depending those greedy politician.

May God bless You all

Truckpusher come and see good news

If I blow you ehn....

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by fbtowner(m): 9:01pm On Dec 26, 2015

Na wa ooo.

E just b like say u ppl no dey commot. See ass ppl dey buy new and latest vehicle.

I don't think we are a product of our economy.

Yesterday was xmas and some ppl spends like their own reserve is over $29b

Well all this crude oil price na jagons.

My guy just go buy toyota venza 2015 model yesterday and you are talking hardship in 2016

As for me and my family. E no concern us

They can give crude oil for free for all I care.

And for those defending buhari. I pity u guys.

U will soon realize they are all thesame thing.

2 Likes

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by geez18(m): 9:03pm On Dec 26, 2015

roughdiamond:
Nigerian citizens should just sit up. No more light at the end of the tunnel. I 'm not against this administration but it lacks measures to curb the surfacing hard time

this "cameleon" pattern won't help you.you had better come out clean.call a bad thing,a bad thing.this administration will cause the demise of this accursěd nation.

Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by FRANKDUFF: 9:05pm On Dec 26, 2015

EternalTruths:
Buhari should have pegged the benchmark at $20 and keep any extra for 2017 Capital Projects

Because if this prediction becomes real, we might end up in an economic crisis.

Borrowing money to finance Capital Projects in a nation like Nigeria whose citizens are corrupt minded might cause Buhari a stroke if these saboteurs divert the money.

Buhari should study his subordinates in 2016 before borrowing.

A wise leader should be patient enough to know the Judas in his ranks.

OGA U FOR ASK BUHARI WEDA HIM GO SCHOOL

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