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Mentored By Jesus Christ | Writer | Inspiring Speaker | Publisher | Coach | Builder | FOUNDER @ Fridayposts, Hubpile, Witicles| President/CEO at Centre for New Dimension Le
Joined 8 years ago
From Bwari, Abuja - Nigeria
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Article Category >>>Business and Economy

OPEC OIL PRODUCTION CUT: What Is Next For Nigeria?

By Gboyega Adedeji       Dec 15, 2016

OPEC OIL PRODUCTION CUT: What Is Next For Nigeria?

While the most quiet and the loudest desire of most Nigerians, irrespective of religion, gender, education, location and occupation is the steady rise in the price of crude oil at the international market. Quite a significant number of people are also asking some salient questions; such as, “What next?”

The people of Yoruba ethnic in Nigeria have this saying that, “The fall of heaven is a matter for everyone.” Implying very strongly that everyone must make personal efforts to avoid the impact; hence, no one will be exempted.

The price of crude oil in the global market has been on a decline for over a year now, causing a lot of hardship for many nations that depend largely on oil as a source of foreign earning. Countries like Nigeria and Venezuela among others have been very affected, with Nigeria almost descending or sliding into an economic depression – after many quarters of negative growth.

After a meeting between between OPEC and non-OPEC nations, there was an unusual consensors for a reduction in the total supply of crude oil across the world; in order to provoke increase in the price of this very important global item. However, Nigeria among a few nations was exempted from this output cut, to encourage her move out of recession. To many Nigerians, this looks like an answered prayer; however, some of us are curious to know WHAT NEXT?

Just as the present administration of the President Buhari led government came on board through a popular vote; countless Nigerians of different religion, age, gender and financial stamina were expectant – hoping for a serious change in the standard of living of an average citizen. However, the expectation came against a very turbulent storm when the FG repeated state that the nation is short of the needed money to effect the promised change. Months after months, Nigerians have been bombarded with how the former administration had drained the nation of dollars and other valuables required for major infrastructural and economic development.

The question in the minds of many Nigerians now is, “What will be the next thing this government will do or say after this oil cut in the global market?”; “Will this government continue to “post” Nigerians or will they for for God sake do the needful?” These and other questions beg for urgent answers as we journey quietly into 2017. Will the 2017 be a year of true economic recovery for most Nigerians, or will it be the CHANGE that we have been seeing and witnessing over these months?


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Article Tags: APC led Government, Gboyega Adedeji writes about OPEC on, How APC has Complained about lack of money for development in Nigeria, OPEC
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Mentored By Jesus Christ | Writer | Inspiring Speaker | Publisher | Coach | Builder | FOUNDER @ Fridayposts, Hubpile, Witicles| President/CEO at Centre for New Dimension Leadership | Entrepreneur | Husband & Father. Engaging me will change you!

I am a Nigerian and an Ambassador of Christ sent to Nigeria for the cause of His Kingdom. By divine-making, I read, teach and speak. I am a Dad to my children and a husband to my lovely wife Omolara. Simply, I am a Writer, Teacher, Coach, Leadership Developer, Conference Speaker and Publisher among others. I am a Creative Managing Partner at kpInspirationals, a media outfit based in Abuja. For more about me, Visit my profile page on Webnigerians, Twitter, Facebook and LinkedIn

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