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

The crash in oil charges and the financial fallout from the coronavirus alongside one another pose what could be an existential risk for Africa’s premier financial system and largest crude producer.

Nigeria, a place of two hundred million persons, is slashing creation speedier than any other significant oil financial system following the precipitous plunge in world-wide charges. Cargo ships entire of hundreds of thousands of barrels of Nigerian crude have nowhere to go, with significantly of the world on lockdown. Nigerian oil firms are desperately competing to fill the very last few vacant tankers…