Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash - Politics

Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash (51627 Views)

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Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by hisexcellency34(op): 6:50pm On Mar 11, 2020

Group Managing Director of Nigerian National Petroleum Corporation (NNPC) Wednesday warned Nigerians to prepare for more economic trouble in view of the current multi-year low level of crude price in the international market.

A spread of COVID-19 across over 90 countries forcing the shut-down of large economies coupled with price war declared by Saudi Arabia aimed at punishing Russia because of its refusal to acceded to further production cuts resulted in the lowest oil prices since 1999.

At the Second Consultative Roundtable with Central Bank of Nigeria (CBN) Governor tagged Going for Growth 2 in Abuja, the richest black man on earth, Alhaji Aliko Dangote also expressed disappointment at the perennial mouthing of plans to diversify the economy once there was a crash in oil prices.

Mele emphasized that the oil industry was the most important sector of the economy but lamented that Nigerian banks were still too limited to finance it.

He advised Nigerians to prepare for at least three months of hardship for the economy even if the market recovered from the price shock immediately as it would take time for the effect to wear off warning “we must assume that prices will remain low”.

The assumption for this year is 60$ per barrel crude oil price as an average now we are facing 30 and we haven’t seen the bottom.

“Today there over 12 LPG cargos stranded globally because they have no hub because of the abrupt collapse in demand associated specifically with coronavirus.

“It is obvious and it has also hit other sectors from the production stage which is the liquid crude.

https://tribuneonlineng.com/oil-price-crash-prepare-for-trouble-%e2%80%95-mele-kyari/

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Davash222(m): 6:52pm On Mar 11, 2020

Na you and your family dey for trouble not me!

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by NextD18: 6:53pm On Mar 11, 2020

1 Like

Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by lilprinze: 6:55pm On Mar 11, 2020

Instead of our olodo president to diversify our economy he is busy looking for oil in the north.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Dreambeat: 6:55pm On Mar 11, 2020

We already know. What you and your boss should be telling Nigerians is what you are doing or plan to do to mitigate the possible negative effect of the low oil prices.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by hisexcellency34(op): 7:01pm On Mar 11, 2020

Are Nigerians not in Hardship already huh

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by oz4real83(m): 7:07pm On Mar 11, 2020

The price keeps crashing at the international market but remains the same in the Nigerian market while the FG keeps paying fictitious subsidies even renowned economics professors won't be able to explain. This is Nigeria lipsrsealed

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by GamalNasser: 7:08pm On Mar 11, 2020

Hardship kill u there

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by chozzy: 7:08pm On Mar 11, 2020

At a time, this same Buhari's APC miscreants came up with a propaganda claiming that Nigeria no
longer needed Niger Delta oil.

They claimed the budget was now substantially funded by revenue from Lagos Ports and Agriculture.

You see these ZOMBIES ehn, they are as dumb and brainless as their master in Aso Rock

Like president like followers

343 Likes 31 Shares

Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by dangermouse(m): 7:13pm On Mar 11, 2020

i don taya for this country mata...

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by budaatum: 7:21pm On Mar 11, 2020*

lilprinze:
Instead of our olodo president to diversify our economy he is busy looking for oil in the north.

Don't mind you. He should be farming, and manufacturing, and producing because he is the President of the Federal Republic of Nigeria, while you are diversifying on Nairaland.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Sunofgod(m): 7:22pm On Mar 11, 2020

We've become used to it......

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by budaatum: 7:22pm On Mar 11, 2020

oz4real83:
The price keeps crashing at the international market but remains the same in the Nigerian market while the FG keeps paying fictitious subsidies even renowned economics professors won't be able to explain. This is Nigeria

Price of petrol at the pump in UK has remained the same too.

Anyone anywhere seen petrol price drop?

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by iammo(m): 7:23pm On Mar 11, 2020

well that's fact for OPEC countries who haven't diversified or who diversified into tourism and pilgrimage

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Nobody: 7:28pm On Mar 11, 2020

Nigeria is too dependent on Oil

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Nobody: 7:35pm On Mar 11, 2020

Where is femi Adeshina and Lie muhammad

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Sunofgod(m): 7:45pm On Mar 11, 2020

budaatum:
Price of petrol at the pump in UK has remained the same too.

Anyone anywhere seen petrol price drop?

Yes ohh.....by a whole 2p per litre!

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by IlovePMB: 7:48pm On Mar 11, 2020*

Buhari is a good man. That is why he is warning us ahead of time. So everyone should tight his belts. Buhari and his government is useless.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Nwodosis(m): 7:49pm On Mar 11, 2020

Have we been out of hardship since Bubu entered?

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Afolabimills(m): 8:36pm On Mar 11, 2020

Worst govt ever since incenption of time buhari d chief dullard

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by hisexcellency34(op): 8:46pm On Mar 11, 2020

Very funny. Who warning epp??

IlovePMB:
Buhari is a good man. That is why he is warning us ahead of time. So everyone should tight his belts.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Maxcollins042(m): 8:50pm On Mar 11, 2020

Sometimes I do wonder where the sort of people that preside over the affairs of this country come from. How could you come out to instill fear into the mass rather than douse it. This indelicate act is borne out of the need to alleviate the ruling party of any aspersion that may spring from the governed.

No wonder Peterside turned down the invitation knowing that nothing tangible will come out of it rather than what we already know.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Nobody: 8:50pm On Mar 11, 2020*

Anf if I may ask, what do you call the one they currently experience?

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by iCauseTrouble: 8:50pm On Mar 11, 2020

Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Authoreety: 8:50pm On Mar 11, 2020

No be una fault

Cos dem no go feel am...

Only the ordinary citizens

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by willian10: 8:50pm On Mar 11, 2020

Na that naira to dollar rate bothers me d most angry

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by enemyofprogress: 8:51pm On Mar 11, 2020

Hmmmmmmmmmmmmmmm. Na die br dis o

Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Zico5(m): 8:51pm On Mar 11, 2020

Foolish people. Which trouble can be more worrisome than we are already in. The insensitivity on the part of the people in this government is second to none. Whether oil crash or not we do not even bother again. The worst is for them to plunder the economy into more distress. God have mercy.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by FuckThaMod: 8:51pm On Mar 11, 2020

One thing about Nigeria is that things don't go back to normal after it becomes abnormal. angry

They kept focusing on oil all these years.. Now it's time. angry

Let's see the new useless avenue they will use to collect more tax from Nigerians.

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Re: Mele Kyari: Nigerians Should Prepare For 3 Months Trouble Over Oil Price Crash by Yankee101: 8:51pm On Mar 11, 2020

Convert your savings to dollars everyone

17 Likes

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