How Nigeria Can Survive $30 Crude Oil Value — Drinks & Mics Panel Weighs In

Ugodre is again! On the 18th episode of Drinks and Mics, the squad kicks off with laughs, presents, and a traditional Ugodre comeback after a short hiatus. Joined by Arnold, Tunji, and particular visitor Samson Esemuede, the banter shortly provides technique to the large query: Can Nigeria survive if oil drops to $30 per barrel?

With crude costs slipping under $60 and world demand displaying indicators of weak point, the crew unpacks what this implies for Nigeria’s economic system. Arnold expects oil to stay smooth, Samson explains how frontloaded imports distorted U.S. GDP, and Tunji argues the Tinubu-led administration should maintain infrastructure spending going, no matter shrinking oil income.

The dialog shifts to the Central Financial institution of Nigeria’s response to the altering macroeconomic panorama. Samson raises issues about how lengthy the apex financial institution can maintain trade charge interventions with out new greenback inflows. Tunji notes that whereas the CBN has taken daring steps on rates of interest and FX reforms, it could want stronger fiscal backing if oil receipts proceed to weaken. Ugodre factors out that financial coverage alone gained’t be sufficient to regular the naira in the long run.

That led to a pointy trade on doable funding choices. The panel weighs panda bonds and potential infrastructure-for-credit offers with China as options. With infrastructure tied intently to the administration’s legacy, the crew agrees that any slowdown in spending may threaten each development and political capital.

Might Nigeria actually stand up to $30 oil?

Watch the total episode now on Nairametrics TV on YouTube.