Nigeria: IMF – Declining Oil Prices to Affect Nigeria's Oil Revenue

[This Day]The International Monetary Fund (IMF) has said that the declining global crude oil prices may translate to lower oil revenue for Nigeria. In fact, the IMF pointed out that a decline in international crude oil prices to $97 per barrel (annual average) would eat into Nigeria’s Excess Crude Account (ECA) balance, while a further fall to between $80 and $85 per barrel would wipe out ECA balances within a year.

Powered by WPeMatico

This entry was posted in African News. Bookmark the permalink.

Comments are closed.