Friday 24 October 2014

NIGERIA’S OIL REVENUE CRASHES TO N502BN

NIGERIA’S OIL REVENUE CRASHES TO N502BNOil price volatility has continued to take a toll on the Nigeria’s economy, crashing the country’s revenue to N502.09 billion in September, down 16.5 per cent from N601.65 billion in August.

This gloomy development came hours after the Central Bank of Nigeria (CBN) pledged to keep supporting the naira after the currency approached a record low amid declining oil prices and the end of the United States monetary stimulus that bolstered emerging-market assets.

Read more @ New Telegraph

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