Global Oil Prices In Danger Of Freefall As APC And Opposition React To Trump’s New Orders

Following Trump’s inauguration last Monday, he signaled that the U.S. might impose tariffs on major trading partners, such as Canada, Mexico, and China, starting February 1. He also withdrew the U.S. from the Paris Climate Accords and the World Health Organization. In addition, Trump made controversial remarks about gender surgery, declaring that his administration would officially recognize only two genders: male and female.

These sweeping executive orders, along with Trump’s immigration policies, have sparked mixed reactions from major political parties, which are now contemplating the potential effects on Nigeria.

In an interview with Punch, Ladipo Johnson, the National Publicity Secretary of the New Nigeria People’s Party (NNPP), predicted that Trump’s policies could lead to a drop in global oil prices. “For instance, Trump believes in drilling and wants to increase production, so it is expected that oil prices will crash. This will undoubtedly have a ripple effect worldwide, including Nigeria,” he stated.

He went on to criticize Trump’s isolationist stance, noting that the U.S. president believes in American superiority. “You can see this in his statements and actions. But this should be a wake-up call to our leaders,” Johnson added. “Nigeria has abundant natural resources, but we lack the leadership and managerial skills to tap into them. We must elect leaders who prioritize Nigeria’s growth and development. We can’t keep relying on the West or even China and Russia for support. We have everything it takes to be prosperous.”

Bala Ibrahim, the National Publicity Director of the APC, also weighed in, suggesting that Nigeria could learn valuable lessons from the U.S. policies and urged Nigerians to avoid attempting to immigrate to the U.S. illegally.