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Nigeria: Country Can’t Cope With Global Pandemics Amid Vanishing Oil Revenue

March 26, 2020

[Vanguard] Earlier this month, shortly before the global outbreak of the Coronavirus, also known as COVID-19, the price of oil tumbled from $68 to $30 per barrel. It’s a double whammy for oil-dependent countries, but particularly Nigeria, one of the world’s most volatile economies. With oil accounting for 96 per cent of Nigeria’s exports and over 75 per cent of its revenue, and with oil prices permanently in a downward spiral, Nigeria is utterly vulnerable, unable to cope with major pandemics, such as COVID-19!Source: AllAfrica News

Source : African Media Agency (AMA)

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