Oil Slump, Coronavirus Create a Perfect Storm for Nigeria’s Economy

Lincoln Wylie

The crash in oil costs and the financial fallout from the coronavirus alongside one another pose what could be an existential threat for Africa’s premier overall economy and most important crude producer.

Nigeria, a state of 200 million men and women, is slashing generation more rapidly than any other major oil overall economy adhering to the precipitous plunge in world costs. Cargo ships total of millions of barrels of Nigerian crude have nowhere to go, with considerably of the earth on lockdown. Nigerian oil firms are desperately competing to fill the last few vacant tankers…

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