Falling Oil Prices and the Outlook for Nigeria
•Download as PPTX, PDF•
2 likes•542 views
This document discusses the implications of falling oil prices for Nigeria in 2015. It provides background on Nigeria's dependence on oil exports and oil revenues. With global oil prices declining due to factors like new shale oil and gas production in North America, Nigeria faces significant uncertainties for its economy, government finances, and currency in 2015. The document urges developing scenarios and skills to navigate these challenges, applying prudence in decisions, and trusting in God during difficult times.
Recommended
More Related Content
Similar to Falling Oil Prices and the Outlook for Nigeria
Similar to Falling Oil Prices and the Outlook for Nigeria (20)
Recently uploaded
Recently uploaded (20)
Falling Oil Prices and the Outlook for Nigeria
- 1. NIGERIA 2015 & OIL PRICE MOVEMENTS Emmanuel Emielu Dec 7, 2014
- 2. Dynamics of Oil Price Movements Technology Discoveries EconomicsPolitics Environment 92.9 92.5
- 3. World Proved Reserves, 2011 (BBL) 0 50 100 150 200 250 300 SAUDI ARABIA VENEZUELA CANADA IRAN IRAQ KUWAIT UAE RUSSIA LIBYA NIGERIA KAZASTAN QATAR USA CHINA BRAZIL ALGERIA MEXICO 263 211 175 137 115 104 98 60 46 37 30 25 23 20 13 12 10 SOURCE: Energy Information Agency
- 4. Historic Global Oil Price Movement BP Statistical Review of World Energy 2014 © BP 2014 Crude oilprices1861-2013 USdollarsperbarrel,worldevents
- 7. Top-10 Shale Gas Resource Countries, 2013 (Source – EIA) 0 200 400 600 800 1000 1200 1400 1600 1116 1115 802 707 573 545 437 390 285 245 1535 Resources (tcf) World Total – 7, 299tcf
- 8. Top-10 Shale Oil Resource Countries, 2013 (Source – EIA) 0 10 20 30 40 50 60 70 80 75 65 48 32 28 27 18 13 13 9 9 65 Resources (bbl) World Total – 335bbl
- 9. Implications for Nigeria - BACKGROUND • Import Dependent • Oil Dependent • Revenue • Dollar receipts • Huge oil and gas • Flat production • Crude oil theft and community issues • Petroleum Industry Bill (PIB) delayed • Security, etc • 170M people • Education and skill challenges • Infrastructures – road, power, etc • Inflation, Interest rates rising? • Naira devaluation – N200/$ or higher? • 2015 Elections • Fiscal responsibility? • Governance?
- 10. Implications for Nigeria 2015 - Huge Uncertainties • Global uncertainties • Economics and Geopolitics • OPEC Response • North America Shale • Nigerian Government uncertainties • Inflation, Interest rate, currency • Elections • PIB passage • Subsidy • Elections uncertainties • Fiscal responsibility? • Governance?
- 11. What Can We Do? No Easy Answers!!! • Develop Insights and Scenarios • Be informed • Consult • Use best judgment • Short Term • Apply Prudence • Mind the Small Stuff • Long Term • Skill, Up-skill, Re-skill • Review your perspectives • Speed – and stamina - matter • Apply the Simultaneous Equation of Prosperity
- 12. The Small Stuff Effect - Time ACTIVITY TIME WEEKLY HOURS DAYS MONTHS 1 Traffic 3.00 15.00 780.00 32.50 1.08 2 Browsing 2.00 14.00 728.00 30.33 1.01 3 Bathing 0.50 3.50 182.00 7.58 0.25 4 Gossip/Idleness 1.00 7.00 364.00 15.17 0.51 TV 2.00 14.00 728.00 30.33 1.01 - - - 3.86 SMALL STUFF CALCULATOR TOTAL ANNUALLY www.og-softskills.com
- 13. Small Stuff Effect - Consumables ITEM COST QTY WEEKLY ANNUALLY 1 Coke 100 2 1,400.00 72,800.00 2 Beer 200 7 9,800.00 509,600.00 3 Cigarette 150 7 7,350.00 382,200.00 4 Recharge Card 400 7 2,800.00 145,600.00 5 - - 21,350.00 1,110,200.00 www.og-softskills.com TOTAL SMALL STUFF CALCULATOR
- 15. Life Is Not a Sprint – It’s a Marathon! • SPEED • Money • Houses • Position • Promotion • STAMINA • Knowledge, Skills, Experience • Relationships • Personal Discipline • Spiritual Foundation and Nourishment
- 16. Above All… • When money failed in the land (Gen 47:15) • When the Laban made the economy and business difficult for Jacob (Gen 31:7) • When Naomi lost all in a foreign land, and thought life was bitter (Ruth 1:20) • There was a God in Heaven who: • Gave Joseph uncommon insight to redeem Israel from famine and extinction • Gave Jacob uncommon business strategies for spectacular growth – even under harsh conditions • God ordered Naomi’s steps to align with harvest time, ending 10 years of famine 5 Trust in the LORD with all thine heart; and lean not unto thine own understanding. 6 In all thy ways acknowledge him, and he shall direct thy paths.