Browsing: Oil price crash

The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update.

Energy ministers from the OPEC+ oil cartel would conduct a video conference on Monday in an effort to find a way to stabilise prices for the commodity, Azerbaijan announced on Friday.

Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation, has urged Nigerians to prepare for more tough times in few months following the crash in the prices of crude oil due to the outbreak of coronavirus.

Panic sell off continued on the Nigerian Stock Exchange on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation.

The President of the Senate, Ahmad Lawan, on Tuesday announced the constitution of a Joint Committee to engage the Executive arm of government on measures to be taken to insulate the Nigerian economy against the impact of the sudden crash of crude oil price globally.