I’ve heard a lot of people blame our current situation and
untold hardships on oil doom and general fall of oil in the international
market, a good number of them have gone further to even quip that a barrel of
oil is now sold at less or more than $40 as against 100USD or slightly below
sold in the past. This got me thinking really hard and I am going to let you
into that thought in a jiffy but first let’s quickly reason together.
In the time past, $1 (one USD) equals to plus or minus N
160 (One hundred and sixty Naira), currently, the same one USD is sold at N 405
and 420 in the parallel market. Are you thinking what I am thinking? I am going
to further break it down, but again I have to remind you that I am not an
economist neither am I a qualified accountant hence I may be wrong or I may be
right but hey after all it’s just a loud thought. Simply put, ‘there is an oil
doom but there’s also a forex boom’ how about that? A barrel that could have
gone for N 15000 –N 16000 at $100 now goes for 16200 at $ 40 per
barrel. Isn’t that like better or something? Before you go calling for my head
on the platter, digest this thought and think about it too, who knows, we may
not be that poor after all… I could always swear that I am right but then
again, it’s just a thought, a loud random thought.
Do have a really lovely weekend.
Cheers.
