Bye Bye to Oil. The age of oil is over for Nigeria,is a feature in one of the local dailies this morning. Here are excepts-... Also, most market watchers and economists now believe that the current situation in the oil market may not be transitory, but, seemingly permanent...For Nigeria, since the mid-1970s, there has been crude oil. For all the talk about our agricultural output, including the phantom 80% self-sufficiency in rice production and cassava bread, the Federal and state governments still gather, in Abuja, every month, to share crude oil proceeds. Obviously, until something else comes along to replace it, crude oil has become the second god we worship. That second god is threatening to let us down the moment at a time when government must choose between guns and garri. We need to pray. But, prayers are never enough. Nigerian governments, Federal and State, should have officers who know the crude oil market in and out; or ask for help. Granted, futurism is not an exact science, and forecasting five, ten years into the future is fraught with dangers. What are your thoughts on the above?Have you grasped the implications of falling oil prices, with oil depicted as a god we worship in this region,a god that is soon to let us down?What are your thoughts?
Posted on: Mon, 15 Dec 2014 09:10:09 +0000
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