Tag Archives: Crude oil

Economic council meets Buhari, warns of recession

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The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging coronavirus infection was not contained as quickly as possible. The council, which is chaired by Prof Doyin Salami, met with the President, Major General Muhammadu Buhari (retd.), at the State House, Abuja. It said one of the immediate consequences, as
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More pain for Nigeria as oil sinks to $29

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With the international oil benchmark, Brent crude, falling below the $30 per barrel mark on Monday, the oil-dependent Nigerian economy has come under more pressure from the sharp drop in government’s expected revenue. The coronavirus crisis has worsened, leading governments and businesses to shut down as the global economy appeared to be headed towards certain recession.
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