Archives Tag: oil prices
How Can Nigeria Recover From Its Debt Crisis?
April 19, 2022
Nigeria is facing a debt crisis due to several factors, including low oil prices, economic mismanagement, and corruption. The country’s debt-to-GDP ratio has reached an unsustainable level, and the government is struggling to meet its debt obligations. In order to recover from this crisis, the Nigerian government will need to implement a combination of … Continue reading How Can Nigeria Recover From Its Debt Crisis?
What Do Negative Oil Prices Mean for Nigeria’s Economy?
April 19, 2022
On Monday, April 20th, the world watched history unfold with dropped jaws: crude oil sold for below $0. If this doesn’t make sense to you, you’re not alone. Not many people understand how a thing could sell for minus $40, as a barrel of crude did at some point during the day. In practical terms, … Continue reading What Do Negative Oil Prices Mean for Nigeria’s Economy?
Weaning Nigeria Off Oil: Are We Moving Quickly Enough?
April 19, 2022
In January, Nigeria’s main foreign exchange earner got more expensive than it’s been in a long while, and government officials were rubbing their palms in glee. It was fantastic news after all; crude oil- or more specifically, the Bonny light crude, which Nigeria produces, hit the $70 per barrel mark, raising hopes that the Federal … Continue reading Weaning Nigeria Off Oil: Are We Moving Quickly Enough?
