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Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 - Politics - Nairaland

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Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by APCHaram: 10:54am On Mar 09
With the humongous debt profile, wasteful spending and high level corruption and looting, Nigeria's economy is set to get worse to the point of a massive recession owning to cash crunch due to expected slide in oil prices to less than $30.

With COVID-19 wrecking production outputs in China, a slow down in output will see a negative demand from crude.

There is also the fact that both Russia and Saudi Arabia are now engaged in an oil war with the two major produces vowing to flood the market to hurt each other's economy. The fallout of this will be an excess glut in oil supply with a sharp decline in demand. This has major oil trading houses predicting a major fall in oil prices to below $30 per barrel.

The Nigerian budget funding has a bench mark of $57 for 2020. Already crude is trading at $46 and the global economic projection doesn't make for higher spikes throughout the remaining of 2020.

How will Buhari service the humongous loans he has already taken.

Is it not time we demand he priotize the loan of $22bn and get rid of the silly $500million for NTA

God help us! The naira will crash to at least 700 to a dollar before Christmas.

I advice you to dump whatever savings you have in Naira and convert it to forex.

2 Likes

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by MrStan11(m): 10:58am On Mar 09
My thought as well

I laugh when people call op prophof doom.
There's no prophecy here, he used available data to show where we are and where we re going.


Sometimes I wonder if Nigerians will ever shun sentiment and hypocrisy over intelligence and critical thinking.



I advice that people should read and be enlightened.
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by jimyjames(m): 11:11am On Mar 09
Let the price fall to 10$ we in the south east don't care

2 Likes

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by 9jathingsonpoint: 12:00pm On Mar 09
When it will reach $5

Nigeria will be wise that we should not depend on oil
How can a country be very foolish to depend on oil for Several Decades
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by helinues: 12:02pm On Mar 09
Una hero second Africa country after Biafla, SA Don already slide into recession.

Not that they are depending on oil price oo, No BH, no Fulani herdsmen..

Buhari really doing his best in Nigeria.

God bless him and his teams

1 Like

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Hyperchi(m): 12:07pm On Mar 09
Let the value go down so we can get wise,
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by johnmartus(m): 12:10pm On Mar 09
Sorry when the oil will finally dry.
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by ChybuzzDD(m): 12:30pm On Mar 09
jimyjames:
Let the price fall to 10$ we in the south east don't care

If you're living in Nigeria, no matter how much you make in a day, it'll still affect you heavily, as the money will no more have any value.

3 Likes

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by APCHaram: 12:37pm On Mar 09
helinues:
Una hero second Africa country after Biafla, SA Don already slide into recession.

Not that they are depending on oil price oo, No BH, no Fulani herdsmen..

Buhari really doing his best in Nigeria.

God bless him and his teams
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by jimyjames(m): 12:40pm On Mar 09
ChybuzzDD:


If you're living in Nigeria, no matter how much you make in a day, it'll still affect you heavily, as the money will no more have any value.

I don't care about this country , let the money not have value, if this country wanted to move forward they should have reduced their dependency on oil by now
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by holicupp: 12:47pm On Mar 09
u are talking when the oil is still there make the oil kukuma dry up
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Parrish: 12:53pm On Mar 09
helinues:
Una hero second Africa country after Biafla, SA Don already slide into recession.

Not that they are depending on oil price oo, No BH, no Fulani herdsmen..

Buhari really doing his best in Nigeria.

God bless him and his teams
helinues sweetie
how's Rekhina your love

LZAA Immhotep Gandollaar

2 Likes 2 Shares

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by immhotep: 12:54pm On Mar 09
Parrish:
helinues sweetie
how's Rekhina your love

LZAA Immhotep Gandollaar
We are waiting for his reply....grin

2 Likes 2 Shares

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Parrish: 12:59pm On Mar 09
immhotep:

We are waiting for his reply....grin
sweetheart helinues come here and kneel down kiss

1 Like 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by LZAA: 1:16pm On Mar 09
Parrish:
helinues sweetie
how's Rekhina your love

LZAA Immhotep Gandollaar
grin

2 Likes 2 Shares

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by NGpatriot: 1:23pm On Mar 09
Nigeria wasn't doomed and even survived to be the largest economy in Africa when oil was selling for $27 per barrel,.

I know you unpatriotic, hateful and bitter people pray for doom and the destruction of Nigeria, but God don't answer evil prayers.


God Bless Nigeria

2 Likes 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by allthingsgood: 1:26pm On Mar 09
APCHaram:
With the humongous debt profile, wasteful spending and high level corruption and looting, Nigeria's economy is set to get worse to the point of a massive recession owning to cash crunch due to expected slide in oil prices to less than $30.

With COVID-19 wrecking production outputs in China, a slow down in output will see a negative demand from crude.

There is also the fact that both Russia and Saudi Arabia are now engaged in an oil war with the two major produces vowing to flood the market to hurt each other's economy. The fallout of this will be an excess glut in oil supply with a sharp decline in demand. This has major oil trading houses predicting a major fall in oil prices to below $30 per barrel.

The Nigerian budget funding has a bench mark of $57 for 2020. Already crude is trading at $46 and the global economic projection doesn't make for higher spikes throughout the remaining of 2020.

How will Buhari service the humongous loans he has already taken.

Is it not time we demand he priotize the loan of $22bn and get rid of the silly $500million for NTA

God help us! The naira will crash to at least 700 to a dollar before Christmas.

I advice you to dump whatever savings you have in Naira and convert it to forex.


Prophets of doom, go and sleep

Nigeria will continue to disappoint u guys

1 Like

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Parrish: 1:28pm On Mar 09
NGpatriot:
Nigeria wasn't doomed and even survived to be the largest economy in Africa when oil was selling for $27 per barrel,.

I know you unpatriotic, hateful and bitter people pay for doom and the destruction of Nigeria, but God don't answer evil prayers.


God Bless Nigeria

1 Like

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by immhotep: 1:51pm On Mar 09
Parrish:
sweetheart helinues come here and kneel down kiss
kiss kiss kiss

cc lzaa

2 Likes 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Gandollaar(f): 2:06pm On Mar 09
immhotep:

We are waiting for his reply....grin
So Helinues is cheating on me

1 Like 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by immhotep: 2:08pm On Mar 09
Gandollaar:
So Helinues is cheating on me
Don't worry.
Una love must work grin grin

1 Like

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Gandollaar(f): 2:08pm On Mar 09
NGpatriot:
Nigeria wasn't doomed and even survived to be the largest economy in Africa when oil was selling for $27 per barrel,.

I know you unpatriotic, hateful and bitter people pray for doom and the destruction of Nigeria, but God don't answer evil prayers.


God Bless Nigeria
Take bowl! Cry your heart out.. .If we don't kill APC, APC will kill us.
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Gandollaar(f): 2:09pm On Mar 09
immhotep:

Don't worry.
Una love must work grin grin
By fire by force o

1 Like 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by immhotep: 2:10pm On Mar 09
Gandollaar:
By fire by force o
grin grin grin

1 Like

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by YeeboMuslim: 2:35pm On Mar 09
jimyjames:
Let the price fall to 10$ we in the south east don't care
Clown
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Hyperchi(m): 3:47pm On Mar 09
My bro just They keep eba we go soon start to they use the oil do soup
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by Parrish: 4:12pm On Mar 09
NGpatriot:
Nigeria wasn't doomed and even survived to be the largest economy in Africa when oil was selling for $27 per barrel,.

I know you unpatriotic, hateful and bitter people pray for doom and the destruction of Nigeria, but God don't answer evil prayers.


God Bless Nigeria
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by LZAA: 9:23pm On Mar 09
immhotep:

kiss kiss kiss

cc lzaa
Our man helinues kiss

1 Like 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by immhotep: 9:25pm On Mar 09
LZAA:

Our man helinues kiss
Our lover kiss

1 Like 1 Share

Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by sapientia(m): 10:01pm On Mar 09
APC have found a worthy excuse for failure.
Re: Nigeria Doomed For Recession As Crude Prices Predicted To Slide To Below $30 by saaron(m): 10:04pm On Mar 09
Nigeria is finished thanks to the fulani regime. Time for TOTAL division of Nigeria.
ONE NIGERIA IS DEAD!

1 Like

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