December 1, 2022

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

1 min read

The crash in oil rates and the financial fallout from the coronavirus jointly pose what could be an existential menace for Africa’s most significant economy and major crude producer.

Nigeria, a state of 200 million persons, is slashing generation quicker than any other major oil economy following the precipitous plunge in worldwide rates. Cargo ships entire of hundreds of thousands of barrels of Nigerian crude have nowhere to go, with much of the globe on lockdown. Nigerian oil providers are desperately competing to fill the previous couple vacant tankers… | Newsphere by AF themes.