Omooba77:


Amen o. A barrel of oil is less than $12 today....

WTI is selling at -37 dollars a barrel meaning that American producers are PAYING their customers to take their oil for May deliveries.

When asked why the could not just close the taps, they say closing the taps will mean sealing oil wells and this will be irreversible in some cases causing monumental losses and bankruptcy.

Global storage capacity for spare oil is at 95 percent. It is just a matter of time before all producers are completely grounded. US oil is completely worthless now.

pocohantas:
It is not funny anymore. Everybody around me is suddenly needy- not any of their fault though. There is really no fun in having “money”, when everyone else is broke. They’ll suck from you till you land in the same subset with them.

Friends that said they would never do my job are suddenly calling my number. Same with young(er) cousins.

I never even factor in post-COVID19 effect.

Na now you just dey know... especially in our world of today where folks walk around with such big entitlement mentality.

shade18:
We're gonna die- all of us

You and your family members.

Yohh:

Haba, which states announced pay cut?

E don start for Nasarawa State, local government workers were paid 75% n Bauchi state wanted to use style to remove some certain % from its workers salary to fight Covid19 according to them but it seems there was too much complain n the government decided to stop it for now.

Torino234:
How long will that "a while" be because major buyer like China are taking advantage of this free fall to buy plenty of oil into their reserve.

The person you quote is not abrest with what is going on presently.

Why won't they..

Check my signature i can help you out if you want

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Nigeria is just peculiar.

You know there is big trouble when doctors and other medical professionals are being sent home because hospitals are shutting down due to legislation whereas in other countries even the retired are being called back.

You know there is big trouble when distribution companies go about cutting power to homes that cannot pay the bills. Do I blame them, no. No one will pay for electricity at the expense of food but what happens if the power sector collapses altogether or is subject to the high maintenance of the rainy season... hmmm....

gbagyiza:


E don start for Nasarawa State, local government workers were paid 75% n Bauchi state wanted to use style to remove some certain % from its workers salary to fight Covid19 according to them but it seems there was too much complain n the government decided to stop it for now.

Gombe,Adamawa and Niger announced pay cuts

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I pity the multinational companies operating under the harsh economic conditions in Nigeria.
Governments, the State and Federal should as a matter of urgency give the multinational companies especially FCMG tax holidays to cushion the effects of the COVID 19.
The effects of foreign exchange will be too much to bear in some months to come.
Government should be decisive by cuttings their overheads. They should also suspend capital expenditures relating to the three Arms of government till further notice when stability will return in the economy.

eleazon:
Some of us in the academia have not even been paid by Federal Government for three months running

Ha ha ha

IPPIS don deal with una na well well, aswear.

E don dey clear una for eyes now abi?

Next time, when government tell you to do something, you do it.

Na only February and March salaries FG never pay una but see as e don dey do you like say 3 months already.

Why are you calling the FG now?

Why don't you go make University Autonomy pay una na?

Nonsense ASUU.

Nonsense people.

GamalNasser:


For weak Economy like Nigeria the FG can fail to meet salary obligations if this continues for 21 weeks....state govts are already announcing pay cuts

What about millions of self paid employees that have not done any business for about five weeks in Lagos and part of Ogun State? Computer Village, Alaba International, Arena Oshodi and others have been closed for over 5 weeks, nobody remembers their survival.

All is kuku well

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Agriculture to the rescue.
May God have mercy on us.

Yohh:

Haba, which states announced pay cut?

They don't need to announce... The reality is that most won't be able to pay at all.

Tomilola360:


You wan make dem come for you. I made similar comment on a thread and became the devil for saying the obvious truth

Did your comment change anything?

jchioma:


Mostly affected will be those who did not save for the rainy day. However, what is true here is that this world will not remain the same again.
Some people may not even have jobs to return to, while some others will bounce back by diversifying and creating new niches for themselves.

At the end, only the strong and wise will survive.

Animal kingdom on full rein in Nigeria... It will now be kill or be killed (Not being literal).

The level of crime and insecurity will be mind blowing... Let's not even talk of violence and suicide rates

Op.

Your ability to analyze the reality that has befalling this country should be commended.

It's really unfortunate.

And for those preaching the lockdown gospel, I hope you won't turn against government when they start with harsh policies to cushion the definite effect and results of the lockdown.

Lexsigno:
this is getting scarier. this is the worst time of being a Nigerian

Well, it's not just Nigeria... But, we will be among the worst hit, due to our economic lack of preparation...

This is why this needless and senseless lock down will hurt us far more than even neighbouring African nations...

This is not the time for a near comatose economy to be locked down...

seedorfg:
Some salary earners that work with essential companies are still going to work in my area. At least their hope and survivor is very high compare to drivers/conductors and mostly artisans.

I still go to work everyday

babyfaceafrica:
Just for a while.. Oil prices will bounce back.. My problem is that we won't learn anything, we will still continue to depend on oil and we will keep looting

my prayer is for oil not to bounce back fast so that we can diversify our economy, places like ajeokuta steel is still bleeding.

[quote author=Yohh post=88679380] Haba, which states announced pay cut? [No mind the person wey talk am]

seedorfg:
Some salary earners that work with essential companies are still going to work in my area. At least their hope and survivor is very high compare to drivers/conductors and mostly artisans.

Yeah... But soon those salaries will suffer in the face of inflation and ridiculous price hikes... Let's not mention increased crime rate!!!

AntiWailer:
It depends.

Some salary earners are able to work very effectively from home.

As a matter of facts most tech guys earn more this period.

I know Fintechs that pay extra allowance for data and power cos the guys are working from home.

Oga. Tech cannot raise our GDP. It cannot build our railways, refineries or make face masks or vaccines. The most resilient economies are those with large reserves built by manufacturing. And goodnews. You cannot do manufacturing from home.

If everyone sits at home 'teching' the world will simply implode.

Chimookigwe:


You and your family members.

Well, he isn't wrong... Death is inevitable for all... It's the timing that will differ.

It's not only NIGERIA, folks. Other first world countries that depends on technology as source of revenue will also need to diversify their economy source of revenue.

No country in the world now is trading international. No exportation or importation for revenue sourcing is going on anywhere in the world now.

All countries Now depend on their Country money reserve/savings for sustainability.

Infact, oil depending economy will be the last to crumble (except if their money reserve is little) because some hospitals worldwide need petrol to operate.

So folks, it's a worldwide problem not only Nigeria.

[b][ Engr Frank & Engr Florence (Master Builders)

This op is just spurring organizations that can pay to come up with excuses to short change Thier workers..please I charge the NLC to follow up on any organization that doesn't pay its workers this period and still post after tax profits in the 100 of millions at the end of the year