There is hope at last

Finally. Now they'll be scrambling to sell while still borrowing.

It won't be long until it returns to the normal price

You never wake up nah

CoronaVirusRelo:
感谢上帝。

我相信，光明的日子仍在继续。

但是，我们必须从流行病中吸取教训，并开始实现经济多元化

傻逼

StubbornGENIUS:
What are you even saying?Didn't you know that oil was at a negative value recently?At least we'll be making money from it instead of the other way round.

Who will be making money?


Oil dependency is the reason why the country has not industrialised. If Nigeria is going to industrialised oil price must be below $20.

It was a nice idea to cut down the amount they produce but it is high time they started looking elsewhere for source of revenue

bolaayenimo:
Buhari has bad luck on managing economy. Let him leave and see oil price jump to $100

Mumu talk!

This is only temporal. Coronavirus fears will revert things in a matter of days. Just watch the consequences of the world easing the lockdown.

sulaak:


Who will be making money?


Oil dependency is the reason why the country has not industrialised. If Nigeria is going to industrialised oil price must be below $20.

Oil dependency or corrupt leaders?

nothing is impossible

mamaafrik:
Somehow i just feel the oil should remain at $2 per barrel for like two years,maybe the government will take diversification of the economy seriously.

If oil remains at $2 per barrel for like two years.
What resource is our government going to "diversify" the economy with?
Nigerians should be careful what we wish for, you need infrastructure to diversify an economy, the infrastructure needed is currently inexistent in the country; our current earnings will ensure that such infrastructures are put in place.
The same leaders that couldn't diversify the economy with the little Petro dollars they are getting, talk more of when it dries up.
They will just throw the country into an insurmountable debt trap with more intense borrowing, loot everything and officially declare Nigeria bankrupt and start calling for international aid and debt cancellations.
And we the masses will just be moving from one level of suffering to another through all the charade.

The report mentioned that Nigerian crude is priced using the Brent price. This is not true. Nigerian crude currently sells about $10 below what the brent crude goes for.

And some fools will come here to vomit rubbish against Niger delta, the region that is sustaining Nigeria and feeding your entire generation.

CoronaVirusRelo:


我的作品有什么愚蠢的？你能解释一下吗？

没必要

Missing that oil trade at 7$ on fxtm still pains me till date

CoronaVirusRelo:



您只是想说些什么而不论是否有意义。我想你现在感到满足了

继续闹

mamaafrik:
Somehow i just feel the oil should remain at $2 per barrel for like two years,maybe the government will take diversification of the economy seriously.

You wait for the Government to diversify and enrich themselves. What about The citizens? What stops them from diversifying?

ChiefAfonja:
This is a very bad news for the hope of Nigerians

Oil price should fall to 0

Pls lord answer this

If oil price falls to $0, you will run away from this country in frustration

Be careful what you wish for

lonelydora:
Who is buying oil now even at $35?

All oil tankers are just patrolling the seas looking who to buy oil like gala sellers in Lagos traffic.



Oil price will rise when the lockdown is eased in most countries.

YOU HAVE HIT THE NAIL ON THE HEAD.

Northerners should go and face Agriculture.

Other regions in Nigeria should start preparing for the BEYOND OIL reality.

TheEffective:


Oil price will definitely rise above what it was was pre Pandemic due to increasing demand as countries reopen and begin energy consumption.

This will give the nation's economy enough time to absorb or recover from the shock or loss. Then we can begin the process of a gradual diversity of the economy. It's a process not a emergency. The relevance of oil is still superior to renewable energy.

I doubt if any country will need more petroleum post-pandemic than it needed pre-pandemic.
My prediction is that the countries will start shifting away from the use of oil. If Nigerian has sense, it should know that this is the beginning of the end of era oil crude oil. I had advised Nigeria and Nigerians about this some years back.

The only diversification this government knows is to create all sorts of taxes

They increased VAT

Introduced Stamp duty

You cannot give what you dont have! All he knows is "hoil" ....diversification of agriculture means taking over Nigeria with cows and herdsmen...

helinues:
Well not bad but still below expectation

Fantastic development.

With more lockdown easings (nobody uses petrol in a lockdown), demand will skyrocket globally for crude oil. Price should touch $50+ in a few months time if OPEC and the other oil cutters stick to the agreement.

Even if they don't, I still feel the price staying at $50 or more

Rgade:

If oil remains at $2 per barrel for like two years.
What resource is our government going to "diversify" the economy with?
Nigerians should be careful what we wish for, you need infrastructure to diversify an economy, the infrastructure needed is currently inexistent in the country; our current earnings will ensure that such infrastructures are put in place.
The same leaders that couldn't diversify the economy with the little Petro dollars they are getting, talk more of when it dries up.
They will just throw the country into an insurmountable debt trap with more intense borrowing, loot everything and officially declare Nigeria bankrupt and start calling for international aid and debt cancellations.
And we the masses will just be moving from one level of suffering to another through all the charade.

At least, after the bankruptcy declaration, the money to loot would have dwindled. Anything to stop these looters.

I know it will still increase but Our Internal problems still remain. No leadership to take us to the next level all seeking their own benefit.

The masses have not benefited in all the money since the beginning of oil discovery. Under covid -19 lockdown we could not feed our citizens despite being one of the giants in Africa.

Over 200 Oil blocks and OML are allocated to individuals, family and friends, girl friends, instead of giving each states of the federation to manage for the benefit of citizens, but our leaders only favoured individuals who later give the oil blocks to big companies to manage for them and get their monthly billions of dollars in returns.

Therefore, any increase or decrease in prices have no any beneficial impart on the masses Unlike Kuwait , Saudi Arabia and many other oil producing nations.

You better fall to $29.23

.

I wonder when nigerian government will look beyond the roof of the country or think of tomorrow. we have all what it takes to make the best country, such that americans will even come to serve us. but stealing no go allow them think.