FALLING OIL PRICE PUTS PRESSURE ON NIGERIA

As the price of international benchmark Brent crude, against which Nigeria’s oil is priced, has plummeted below $60 per barrel, experts have highlighted the increasing challenge facing the Nigerian economy.

The price of Brent crude oil fell to $58.50 per barrel on Tuesday for the first time since May 2009, from a little above $61 on Monday. It hovered around $59 on Wednesday.

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