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Nairaland Forum / Nairaland / General / Career / Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further (20664 Views)
Capital Oil Workers Fear Job Losses / Maritime Sector Records 6,000 Job Losses / Bankers, Others Take Insurance Cover Against Job Losses (2) (3) (4)
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Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 11:23am On Jan 04, 2016 |
lielbree: Actually 1.It is the fault of the previous PDP government for failing to save and for failing to curb corruption. (They did do some good trying to improve power and public transport....but at the same time were busy wasting money that should have been saved)> 2.Even if we saved, we may still have had to take drastic austerity type measures. Saudi Arabia and the UAE which saved far more than we could ever hope for...from their oil money....are looking at cutting subsidies, and raising Value Added tax. Judge Buhari on how he responds to this crisis.....he was not its cause. Blame your PDP for that. And blame you Nigerians for being so import dependent..... 3 Likes 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by lielbree: 11:25am On Jan 04, 2016 |
Aurelius1:Was Gej not blamed for fall in oil prices? Is that not why your da.ura du.llard promised to stabilise oil prices if elected? Did Gej not handle the situation better? Pms was 87 naira now it's 140 and even scarce! All u apc e-rats are to blame! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by manutdadex(m): 11:27am On Jan 04, 2016 |
PassingShot:no wonder, na their dem dey giv u hope..lolz...projected indeed |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by kingviny: 11:28am On Jan 04, 2016 |
With this economic imbroglio, what the government need to do are as follows:- 1. Sell licence to foreign investors who would come to nigeria to build a 20,000 b/d refinary each (micro refinaries) all around the country within 6 months. Since this is a small capacity refinary, it can be built within a short space of time. This action will help end the huge demand for forex with respect to fuel importation as petroleum products will now be 100% manufactured locally. The oil companies will thereby create massive jobs as they totally capture not just Nigeria but indeed the whole of west africa. Dollar income generated from sale of licence and elimination of forex for oil import would surely strengthen our currency, it will eliminate fuel scarcity and it will create employments. The current epileptic government owned refinaries should be downgraded to its effective capacity and sold off. Government should only regulate the industry. 2. Government should stop providing dollars to religious pilgrims as it has zero economic benefit to the nation. Aggregate dollar demand from these people are very high, just imagine providing about $5,000 each for say 1 million pilgrims annually ( both christians and muslims ), that is about $5billion! . If this amount is made available to the manufacturing sector, we can imagine what that will do to that sector! 3 Likes 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by anawoism: 11:30am On Jan 04, 2016 |
The National Govt is not a play ground for kindergarten, appointing a mere commissioner of finance from a state to be minister of finance was a fundamental mistake especially at a time when the Nigerian economic ship is tremendously voyaging towards doldrums. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Cutehector(m): 11:31am On Jan 04, 2016 |
And I studied oil and gas..... fatal mistake |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 11:32am On Jan 04, 2016 |
Psalm18: Well, while I think that all Nigeria's past leaders have questions to answer.... 1.We did try to develop an industrial blueprint back in the 1970's. 2.The palaver is that when you are dependent on resources....and it is not just oil, we were resource dependent on agriculture too up to the 1980's.....it becomes easy to accumulate money and spend it importing, rather than manufacturing.And let's be honest.....becoming a manufacturing society is not easy. You have to go through a period of hardship while people do not buy what you make...but eventually the results are worth it. 3.Where our problems really began IMO....was the Second Republic. THose guys kept on chopping money....EVEN when oil prices crashed in 1982.Buhari took over and attempted to steady the ship by dealing with corruption while keeping industry afloat. But...that was not enough....and when IBB took over...things got worse...so we had to take the SAP medicine , and then devalue the Naira.Problem is that Nigerians do not cut their coats according tosize..... |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Heart2heart(m): 11:35am On Jan 04, 2016 |
Whenever the democrats are in power and prepping up for the presidential election to retain their incumbent, there is always a global oil industry meltdown heralding such an election year. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by francizy(m): 11:36am On Jan 04, 2016 |
Psalm18: There's one babe I met recently, she just took a drink after I pressurized her to. I was amazed and I like her more tho. Just that am more concerned about being successful now than dating.. 1 Like 1 Share |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Psalm18: 11:36am On Jan 04, 2016 |
Kikero112:I agree entirely. I Still lay the blame on our leadership what is good planning without the execution. Or political Will. Especially IBB, he was the worst of the lot. Saudi government saved for its citizens and the princes also had foresight to carry out massive infrastructural buildup and human development of its citizens. They are rolling back some of the social services that was once subsidised but also were it not for the massive funds they pour into defence due to the peculiar terrain they find themselves, this oil drop won't have affected them.massively. But I agree with the sentiments you shared. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 11:38am On Jan 04, 2016 |
Cutehector: It isn't a mistake....so long as people drive cars ,fly in planes ,and use motorbikes and speedboats....there will always be a need for oil and gas people. Once upon a time, a major producer of milk collapsed. Does that mean that people who trained in the milk business lost hope? Not when people continue to demand for milk in their tea/coffee/flakes/etc. When you should start worrying is when the first nuclear fusion reactors come on line...... |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by macklef(m): 11:40am On Jan 04, 2016 |
Kikero112:Yesso, The fall in oil prices will affect the economy to some extent but not really d category of people he mentioned When oil was over 100usd per barel transport route of 50naira was stil the same as that when fuel price droped to 35usd per barel. As long as the official pump price for fuel remains constant and their is no scarcity. Tomatoes seller, owo loaders and transporr cost remains constant. As regards people loosing their jobs, it will only reduce their purchasing power and would inturn lead to low sales of tomatoe sellers and bus loaders. Business will just be dull but would remain fair. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Cutehector(m): 11:40am On Jan 04, 2016 |
Kikero112:enlighten me on dat |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by omozu1(m): 11:41am On Jan 04, 2016 |
If they are to sack anybody they should pay them off with good money . So that they too can invest their money and also help employ others |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Nobody: 11:46am On Jan 04, 2016 |
Cutehector: Off topic....but nuclear fusion has the potential to produce lots of cheap energy...rendering dependence on heating oils....a vital part of crude oil sales....worthless. Then add the fact that nuclear fusion...means more cheap electricity....which may make an electric car more feasible. It is still decades away....so rest easy. Very technical article here:http://www.theoildrum.com/node/2164 |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by WaffenSS(m): 11:50am On Jan 04, 2016 |
theV0ice: Wish I could give you 2 likes: one for your comment above, and one for your signature. 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Cutehector(m): 11:56am On Jan 04, 2016 |
Kikero112:these Chinese chaps won't agree I believe research is currently on that as we chat |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Psalm18: 12:01pm On Jan 04, 2016 |
Cutehector:Em...did you read the link he sent to you. It's a research been done all over the western world,- the leaders are actually the Germans and the United States and not China. The recent leap of the tokamak was done in Germany. The OP sent you a good link, the best you can do is read it. Peace! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by theV0ice: 12:01pm On Jan 04, 2016 |
WaffenSS: Thanks but can we monetize it? Dasuki style 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Cutehector(m): 12:02pm On Jan 04, 2016 |
Psalm18:oh he sent a link, I didn't see that part... standin under d sun readin his comment dats why... I willcheck it asap 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Psalm18: 12:06pm On Jan 04, 2016 |
Cutehector: OK. I thought it was a case of the 'Blackman not reading things with rigor' I apologize. There was a recent breakthrough in Germany with their own version of the nuclear reactors. As well as a research lab in Texas. Like he said though, we are few decades away from massive power production from nuclei fussion. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by Cutehector(m): 12:26pm On Jan 04, 2016 |
Psalm18:yeah true that. Am switching over to i.c.t |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by poiZon: 12:29pm On Jan 04, 2016 |
modath: who r the enemies of the state? n saboteurs? apc r their own enemy n buhari is his own enemy, i dont see why a fada will discriminate against his children no matter what they did or not. that 97 n 5 percent thing reactivated biafra thingy, lets stop being economical wif d truf. if it was gej that made such silly statement, by now junaid mohammed, the whole NEF N apc for dey on explosion mode! i wish naija well! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by WaffenSS(m): 12:41pm On Jan 04, 2016 |
theV0ice: Sure. I can give you dollars...but you're solely responsible for crediting it to your domiciliary account. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by modath(f): 12:42pm On Jan 04, 2016 |
poiZon: I'm sure you are a Christian!! Honour your father & mother is before, Parents do not drive your children to wrath!! To whom much is given, a lot is expected!! He who sows wind, will reap whirlwind!! The bible also goes further to state " what thou sow, thou shall reap"... Ruminate about that & be truthful right within your own thoughts & opinions... No one is a saint, people bleed when cut. Peace! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by jpphilips(m): 12:43pm On Jan 04, 2016 |
[quote author=kingviny post=41639649]With this economic imbroglio, what the government need to do are as follows:- 1. Sell licence to foreign investors who would come to nigeria to build a 20,000 b/d refinary each (micro refinaries) all around the country within 6 months. Since this is a small capacity refinary, it can be built within a short space of time. There are factors affecting citing a refinery,have you put that into consideration? where will you get the oil refine in those refineries? This action will help end the huge demand for forex with respect to fuel importation as petroleum products will now be 100% manufactured locally. 2. Government should stop providing dollars to religious pilgrims as it has zero economic benefit to the nation. Aggregate dollar demand from these people are very high, just imagine providing about $5,000 each for say 1 million pilgrims annually ( both christians and muslims ), that is about $5billion! . If this amount is made available to the manufacturing sector, we can imagine what that will do to that sector! This is the only valid point you have, guess you are a religious commentator!! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by theV0ice: 12:43pm On Jan 04, 2016 |
WaffenSS: Oya keep your dollars....Dont Dasukilize me |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by 1freshdude: 12:49pm On Jan 04, 2016 |
I hope the price of oil falls to $20 or less per barrel before the end of the third quarter, it will be a catalyst for a great Nigeria. Nigerians have lived in folly for too long due to free windfall from oil revenue. All man has been lazy and lax for too long, we would be wise and less tolerant of bullshit if we have to work-off our arses to survive. Oil price I beg touch ground! 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by WaffenSS(m): 1:28pm On Jan 04, 2016 |
theV0ice: God save you. I for don Buharize you. |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by theV0ice: 1:29pm On Jan 04, 2016 |
WaffenSS: abeg o... 1 Like |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by OShepherd: 2:09pm On Jan 04, 2016 |
Time 4 dubious pastors 2 make doe in d name of village witches blocking Ur chances in making cash.......b wise!!! |
Re: Fear Of Job Losses As FX Scarcity Persists, Oil Prices Crash Further by onyeogalu1(m): 2:32pm On Jan 04, 2016 |
[quote author=PassingShot post=41634303]We shall overcome. Oil is projected to stabilize at $45 to $50 in 2016, Bros that projection will be diffcult to achieve, if you take into account that Iran will start crude oil export in 2016 |
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