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.

lt spells the re-arrangement of our reasoning.

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!

People should be thinking more towards agribusinesses. That's where I think there's future and security.

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.

Let it fall to $0pb so that everybody can go home...bunch of lazy leaders..

Around early 2016?
But we are talking about 2015.
Will we remain like this till 2016?

Justcash:
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.

Pavore9:
lt spells the re-arrangement of our reasoning.

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

BasseyJ:

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

The hope that it will rise again will make them relax!

Pavore9:
The hope that it will rise again will make them relax!

Quite true, they'll wanna milk it dry and wait till prices drops to a ridiculously cheap amount before they'll look elsewhere

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.

i thought buhari says he will bring back the oil price back to $100 per barrel parasites should focus their minds on something else and leave ijaw oil alone they have enjoyed it for 40yrs still want more ole people

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.

It does not only spell doom, but we're literally 'doomed'.
I pray it drops to $10pb.

backtosender:
i thought buhari says he will bring back the oil price back to $100 per barrel parasites should focus their minds on something else and leave ijaw oil alone they have enjoyed it for 40yrs still want more ole people

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.

Caseless:
dont worry, the ijaw oil will be valueless and possibly run dry so u ppl can allow us peace with ur 'na we oil, na we son' useless mentality.

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