Nigeria's Hope for Oil Price Recovery Dims As Iran Returns

20 July 2015

NIGERIA'S hope for an immediate recovery in the global price of crude oil may not be achievable in the foreseeable future, as a result of the return of Iran to oil export, after reaching a historic agreement with six global powers on its nuclear programme that would pave way for the lifting of the western sanction on its country.

This development would further negatively impact Nigeria's revenue, which has been at its lowest ebb since global oil prices began to fall in July 2014.

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