What will happen if price of oil crashes?

A delegate has revealed convincingly yesterday that if the price of oil crashes, governors and politicians that tour round the world with private jets, will look for motorcycles to ride.

Yinka Odunmakin who is representing the South West Geo- Political Zone  at the Confab analyzed that if no oil, only Lagos state out of the 36 states of the country would be able to survive using its Internally Generated Revenue, IGR to pay workers’ salaries explaining that the remaining 35 states generate only a fraction of funds they require to settle their wage bills annually. Which simply means that without federal funds, these states cannot even afford salaries payment, not to talk of executing any projects according to information gotten from National Bureau of Statistics on states’ wage bills comparisons with data on their internally generated revenues (IGR)