So awa oyel is finally becoming useless by the day. Nigeria is in trouble

It is obvious the decline in oil price is due to power tussle between Russia and Saudi, they only saw the coronavirus as an avenue to make excuse for their actions.

EliteStriker:
This is a call to action for countries that depend on oil revenue to diversify. Our Tourism industry is still untapped talk more of services.



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Forget tourism.

That is no longer a viable alternative. The north has made sure of it.

Okay

Omo see strategies...people are really smart in this world.

Still doesn't mean that China would lower the prices of goods that they export, even if oil prices drop to the bottom of the ocean. If anything, they would make them higher. China that I know to an extent cannot suffer the brunt of coronavirus and not make the rest of the world have a taste of what it suffered.

Lay man breakdown please

2 major Factors that could affect oil prices

1. War

2. Disasters / Pestilences such as Covid-19..

The World Economy is on a free fall...

Businesses are Folding up unprecedentedly..

Na to go buy as much hard currencies as possible. This is the period to be rich

MrPresident1:
It means that price of petrol will fall

N80 Per litre

Not possible. Oil prices in this context only refers to "exportable oil and allied products". The domestic price is not part of the discussion

Samakus:
Na to go buy as much hard currencies as possible. This is the period to be rich

how? Which of them?

IMASTEX:
The Nigeria politicians should be the worse hit because that is their looting money. Other Nigerians only read crude oil funds on papers

gbam

Hmm.

The bottomline is - Oil is in its last days...Nigerian politicians are busy fighting over oil money instead of investing in renewable energy and sustainable economic development. To imagine the amount this dumb government blinded by ethnicity and bigotry, is investing on oil exploration in the north even when everyone knows oil is becoming increasingly worthless - North. Easy Money. Anti Development..It could have been alright for the North and its leadership to keep playing the ostritch....sad thing though is that the failure of northen leadership is the failure of Nigerian leadeship because both represent one and the same people..
..
.

eleojo23:
The value of dollar to naira is about to go up again.

We may be heading to N500 to $1 again.

Thats good for traders

MycroftHolmes:
One of the reasons why we need to diversify our economy. Things like these affect Nigeria on a different scale because oil is our only hope

Other countries are shifting to renewable energy sources, and we are not even refining our own crude oil yet... Makes me wonder what hope there is for the future generations if the oil price crashes further (or the oil even finish kpata-kpata)


And our leaders are just there, not caring about what the future holds for the nation. SMH

i hope end up like Venezuela... lets see if all these leaders will not be murdered one by one.. all of them,

Agro industry is the way out

MrPresident1:
It means that price of petrol will fall

N80 Per litre

Our local market will not feel any relief. Oga Lie Lie will soon emerge with reasons why our local pump prices should be increased...

Hmmm

destinie2019:


Our local market will not feel any relief. Oga Lie Lie will soon emerge with reasons why our local pump prices should be increased...

Lai does not need to come with any reason... it's only logical to know that pump price would even increase as a means the govt would use to fund itself because oil demand is poor and over saturated without production caps to accommodate lower production countries like Nigeria.

If only Nigeria could start controlling its population, that is the only way Nigeria can survive the next three decades.

Our dwindling resources can no longer accommodate a population of 200m talk more of an increase.

Rubbish! Oil prices are crashing because Karma is visiting the world for voting out Jonathan in 2015

Time 4 nigeria 2 make more profit from d sale of crude oil

Quorax:
i hope end up like Venezuela... lets see if all these leaders will not be murdered one by one.. all of them,

Sadly, no one would raise a finger against the malevolent politicians. Nigerians are only concerned about the vernacular ring of the leadership as against what the leader actually does in the office. Once a leader's name has a similar vernacular ring to theirs, Nigerians would protect them with the last drop of their blood, literarily, even without food, clothing, education, water, housing, health - So if you are up against Nigerian leaders you should be ready to fight their hungry, illiterate, dirty, homeless, kinsmen. If this country is not doomed, Syria must be a land flowing with milk and honey..

The earlier we diversify into other sector that’ll stabilize our economy..

THE DULLARD IF JUST FULL OF BAD LUCK

Switch to solar and all these rubbish won’t affect you.

Ideally, this is supposed to result in lower prices of fuel, diesel& d likes in Nigeria. But alas....

Sultty:
I want oil to be rendered useless so useless in price since Nigerian leaders refuse to receive sense and are so proud I'll like to see what's left of them

Oil should not be useless oooooo
You know our leaders don’t have any sense...and that won’t still make them have sense. They will only result to what they know how to do and that’s tax....

They will tax us for breathing, sleeping, walking, having sex, we will even pay the government thinking about anything...

I believe Buhari will turn things around




Dreamers.

Jeferious:
Omo see strategies...people are really smart in this world.

Still doesn't mean that China would lower the prices of goods that they export, even if oil prices drop to the bottom of the ocean. If anything, they would make them higher. China that I know to an extent cannot suffer the brunt of coronavirus and not make the rest of the world have a taste of what it suffered.

Lol! You honestly think the 'cheap' Chinese products you see is because Chinese love selling cheap things to the world? China cannot raise or reduce prices any more than market forces allow. There is competition between China and other countries as well as between producers within China itself. That would determine the prices of goods after coronavirus crisis..

It is obvious the decline in oil price is due to power tussle between Russia and Saudi, they only saw the coronavirus as an avenue to make excuse for their actions.