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Nairaland Forum / Nairaland / General / Politics / Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? (1384 Views)
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Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Goldmind1(m): 10:37am On Jan 06, 2015 |
Light sweet crude fell this morning to $49. Just wondering what that mean to Nigeria. Tough 2015. We should go for personal austerity measures. Avoid wasteful spending and plan your spending. I also foresee FG downsizing their staff strength or cutting salaries of workers in 2015. May God help us to pass through this.
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Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Pavore9: 10:41am On Jan 06, 2015 |
lt spells the re-arrangement of our reasoning. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by mickyarams: 10:50am On Jan 06, 2015 |
Countries like Qatar, UAE, Saudi, Brunei and so on know that oil will dry up one day and that's why they are investing heavily in other sectors such as banking and tourism. You only have to look at how the UAE has transformed a desert island to one of the most luxurius tourist attraction in the world in the space of 30 years. But in Nigeria, we've got nothing to show for the oil boom we've had over the years and so a price drop in crude oil means nothing to us, this country is hopeless! |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Goldmind1(m): 10:55am On Jan 06, 2015 |
People should be thinking more towards agribusinesses. That's where I think there's future and security. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Justcash(m): 10:55am On Jan 06, 2015 |
It will go up again. This will happen somewhere between early to mid 2016. Demand just needs to rise, and this will start soon. Atleast, for OPEC NATIONS. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by CyberWolf: 10:58am On Jan 06, 2015 |
Let it fall to $0pb so that everybody can go home...bunch of lazy leaders.. ![]() ![]() |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Goldmind1(m): 10:59am On Jan 06, 2015 |
Around early 2016? But we are talking about 2015. Will we remain like this till 2016? Justcash: |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by BasseyJ(m): 11:02am On Jan 06, 2015 |
Pavore9:simple, it would def rise again, but i just wish the Govt would use this opportunity to look into other areas instead of relying 100% on crude |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Pavore9: 11:06am On Jan 06, 2015 |
BasseyJ:The hope that it will rise again will make them relax! |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by BasseyJ(m): 11:12am On Jan 06, 2015 |
Pavore9:Quite true, they'll wanna milk it dry and wait till prices drops to a ridiculously cheap amount before they'll look elsewhere |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Pavore9: 11:38am On Jan 06, 2015 |
l recall in 2014, the Kenyan President said though Kenya has found oil but Kenyans must learn from Nigeria's mistake, that Nigeria found oil & forgot every other thing! They must continue to focus on agriculture & tourism they are well known for. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by backtosender: 11:51am On Jan 06, 2015 |
i thought buhari says he will bring back the oil price back to $100 per barrel ![]() |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Alokendra(m): 11:55am On Jan 06, 2015 |
This is serious. Its high time our government diversified our economy and think less of oil. We're in the era of shale oil and the price of crude oil might even reduce further. Nothing is happening in our mining sector when we we have huge solid mineral deposits. Itakpe Iron mine had been inoperative for years, our refineries are not working. What is wrong with us? Why did we forget everything because of oil? Damn! Our leaders have really failed us! I foresee difficult times coming. When will our government/leaders start taking proactive approach to solving our problems? There was truly a country. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Caseless: 11:57am On Jan 06, 2015 |
It does not only spell doom, but we're literally 'doomed'. I pray it drops to $10pb. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by Caseless: 12:00pm On Jan 06, 2015 |
backtosender:dont worry, the ijaw oil will be valueless and possibly run dry very soon so u ppl can allow us peace with ur 'na we oil, na we son' useless mentality. |
Re: Light Sweet Crude Oil Drops To $49.31, Does That Spell Doom For Nigeria? by backtosender: 12:05pm On Jan 06, 2015 |
Caseless:the reason why some APC states cannot afford to pay their salaries any longer?and is not like you guys have created some revenues that will take care of things in-case oil price drop am telling you parasites will cry like Somalians very soon |
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