klava:
Cronavirus will change the lives of many. We are still facing a period of economic and financial crisis.

I agree. We just pray our govt. sees this new realities and wake up to their responsibilities on time. Unfortunately, in this part of the world, naa re-actionary govt we get. To forsee sth and get prepared before it happens, no be our way. However, on individual level, one can get sth done, even if our govt seems not to know their right to left. Like myself, i wont have any excuse o, if sth dire happens to the economy and i do not put 1 to 2 together before then.
Anyways, all will be well bro.

Good move, given the present economic realities and earning profile of our country. Per barrel is down under $30, far from $57 proposed in the budget. Budget is been reviewed down as we speak, because there is no money to implemen it. Recession is gradually knocking on the door. Is more borrowing the solution now? If they would borrow the money and spend it all to fix power alone i will support it, not all the frivolities included in the breakdown of the loan. Fixing the power alone will have so much ripple effect that will make buhari look like a magician overnight. I dont know why our leaders wont see uncommon solution in common sense.
Anyways, what do i know self. Abegiii!

Today, Monday, March 16th, 2020, major stock indexes all over the world hit record losses. In fact, what happened today had only been recorded in 1929 and 1987 stock market crashes. In both instances, it was blood on the main street and factory floors, because a lot of wealth & savings was wiped off and many companies declared bankruptcies. I hope the financial market will not follow the same patterns this time around.

It is funny to say that just last month, february, 2020, all these stock indexes were trading at an all-time-high, creating the kind of wealth for people the world had never seen before. For example, without lifting a finger, the likes of jeff bezos and co. were adding $10b each to their wealth, all thanks to the bull market ride. The stock market just kept going higher and higher, reaching levels it had never reach in the history of the stock market. March entered, we started talking about recession. Imagine that summersault! What a difference a month can make. The stock market is indeed the grand casino! The market gives, and the market takes away! This is to show that this virus really mean business with us, and every hand must be on deck to fight this common enemy.

Many companies make up all of these indexes, well known companies upon which many of us depended on, like fb, amazon, alibaba etc. The world is one big supply chain. What is produced in China is consumed all over the world. The manority of the oil produced in Nigeria is consumed by Chinese, Turkish and india companies. If these companies shut down, who is going to but the oil from us? All these companies are already shutting down their operations substantially, especially in China, the world number 1 supplier. Abi, wetin no come from china nowadays. Inevitably, these compnies are incuring loses both in sales and shares valuation at an alarming propotion. 12% loss today means, they have lost 12% of their value in just one day! To put that in context, it took the stock market a year to gain that 12% it lost today. If this losses persist, i dont think any company will still be standing come april. And that will be total collapse.

What triggers this precipice is this virus and the manner in which it is gently spreading but very deadly to human race. It is gradually stoping us from doing what we have been doing for centuries and what has made our social progress possible: [/b][/i]relating.[b][i]
Social and economic relations are getting disrupted day after day. Flight getting cancelled, borders getting closed and football leagues have been paused. And the supply chains for goods to reach end users have been affected too. UK govt. announce today for all pubs, bars and other places people gathers should close up. This, indeed, is desperate time. And it calls for desperate measures.

HOW DOES IT AFFECT US IN AFRICA, ESPECIALLY, NIGERIA.

My point is that the cure for coronavirus must be found in time, else, africa wont be speared from this looming economic collapse, even if the virus could not operate much here because of the weather, as people claims. Nigeria is import-dependent nation. Rarely there is anything we dont import. So, if importers couldn't get the goods into the country, the prices for available ones will skyrocket. And the way economic cycle works is that, the effect of what is happening in this quarter, Jan - March, will be felt much more from the next quarter, April - June, and going forward. So, factories and business closing up as stock market indexes is pointing to, like today, really call for serious measures from government agencies concerned to avert the looming economic danger ahead.

MAJOR EFFECTS OF THESE ECONOMIC PANDEMIC (IF) IT HAPPENS.

1. As stated above, if no/less import, prices of available goods will jump.
2. Dollar will get stronger against all currencies, because, real, savvy investors will only buy treasuries bills that are dominated in dollars. Dollar strength will only make no 1. more costlier. How much is dollar to naira now?
3. World economy is inter-connected now. If China sneeze, europe will caugh, eventully, africa economy will catch cold. Nigerian economy is exposed too. Hope you still remember 2008? Sub-prime crises! And, what happened to Nigerian stock market? And still been felt till today.
4. Unemployment. Civil servant should expect half/owed salary. Retrenchment. God forbid bad thing o.
5. The demand for crude has plummeted as Russia and Saudi-Arabia flooded the market with cheap oil. A crude now sells below $30 per barrel. That is far below Nigerian govt $57 per barrel benchmark. How is Nigeria going to fund its budget now? And, mind you, during recession, govt must have money to spend to keep up the economy. Shey naa more taxes dem wan do? During recession? Make den kuku kill us be that. Or go borrow? From which govt or donor agency precisely during recession? All serious govt saves money for situations like this. But, our govt, may God help us o. I just hope they have plans and programs in place to surprise us.

In Conclusion, l believe it is better for us to be enlightened and informed about what lies ahead and make our plans ahead of time, so as not to be caught unawares. This is not to scare anyone, but to lay a possible scenario bare before us, so as to make our choices as we see fit.
As for the korokorovirus(lols), let's pray the cure is found quickly. And, please, my people, let's maintain hygenic practices as long as this stuff last and even beyond. We dont know its end yet.
Lastly, as every other pandenmic has passed us by in history, this one too shall pass!

Peace and Victory!

https://6abc.com/business/stock-market-losses-accelerate-past-10%25-on-coronavirus-fears/6017932/

https://www.bloomberg.com/news/articles/2020-03-15/years-going-past-in-a-day-for-s-p-500-traders-in-history-s-grip

Cc: lalasticlala , Kindly consider for fp please. Regards!

What a time this is! Nobody brags about class, race, religion or ethnicity. Just one and united human race against a common enemy that is he*l bent to make us extinct. This virus has make our leaders realise that we are afterall, same flesh and blood. How i pray they will channel this sense of urgency and seriouness to other issues affecting us too, especially my naija. This world wud have been a much more better place. Shai! The fear of covid is the beginning of common sense o!

Nigeria, my ever re-actionary never pro-active country! Serious countries have funds saved and invested for periods like this, bcus it is inevitable and part of a cycle for the next boom to start. Naa to squander everything dem know. Logic and reasons never seems to prevail on us. Anyways, what do i know self.


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You too can profit from oil like i do. Wherever crude goes, up or down, you can learn to profit from it.

If you want to learn a systematic method to trade financial market for consistent result every week, check my signature. You may check out my blog too. Thanks

BOSSFX