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Nigeria: Nigeria Faces Revenue Crisis As Oil Price Crashes
Premium Times, 9 March 2020
Barely hours after the world's top oil exporter, Saudi Arabia, began a global oil fight, Brent crude oil crashed by about 30 per cent, sending Nigeria into a revenue crisis. Read more »
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Nigeria: Country Risks Recession As Saudi Arabia Begins Global Oil Fight
Premium Times, 8 March 2020
Saudi Arabia plans to unilaterally increase oil output next month, a move that could further reduce prices, reliable sources told Bloomberg. Such a move could make matters worse… Read more »
Nigeria Risks Recession As Saudi Arabia Begins Global Oil Fight
Saudi Arabia plans to unilaterally increase oil output next month, a move that could further reduce prices and could make matters worse for oil-dependent countries like Nigeria. Nigeria makes most of its foreign earnings from oil. The current price of oil is already well below the U.S.$57 a barrel Nigeria benchmarked in its 2020 budget, with planned daily production put at 2.18 million barrels.
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Nigeria: Oil Price Crash - Nigeria's Finance Minister, CBN Governor, Others in Crucial Meeting
Premium Times, 9 March 2020
Crashing crude oil prices on Monday forced an emergency meeting of key revenue agencies to review the impact on the Nigerian economy. Read more »
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Nigeria: Anxiety Over Nigeria's Economy As Oil Prices Tumble Amid OPEC, Russia Failed Talks
Premium Times, 7 March 2020
Oil prices slumped Friday after the Organisation of Petroleum Exporting Countries (OPEC) and its allies failed to reach a deal on oil production cuts. Read more »
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Nigeria: Coronavirus Crashes Oil Price to $30, Halves Nigeria's Revenue Projection
This Day, 9 March 2020
As Coronavirus (COVID-19) maintains its spread to more countries, forcing lower demand for crude oil and attendant push for production cuts to stabilise prices by the Organisation… Read more »
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Nigeria: Businesses Lament Impact of Coronavirus in China
Premium Times, 8 March 2020
Since the outbreak of the coronavirus in Wuhan, the capital of Hubei province in Central China, in December last year, some factories in China have remained closed, while workers… Read more »
InFocus
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Finance Minister Zainab Ahmed has said that the 2020 budget may be revised if government revenues are significantly impacted by the coronavirus outbreak. An Italian citizen working ... Read more »
