The Federal Government has warned
that Nigeria will begin feeling the impact
of the declining price of crude oil in the
global market from this November.
Minister of Finance and Coordinating
Minister of the Economy, Dr. Ngozi
Okonjo-Iweala, who disclosed this in
Lagos yesterday at the Institute for
International Finance’s 2014 Africa FOil-
Thief-cartooninancial Summit hosted by
Access Bank Plc noted that events
unfolding over the last couple of weeks
have cast a shadow over the global
economy, especially Nigeria and other
African countries.
The Minister asserted that commodity
prices are declining globally in the last
couple of days with Nigeria’s reference
crude, the Bonny Light, trading at about
$83 per barrel.
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