Friday 26 February 2016

OIL FIRMS’ CASH FLOWS WORSEN, BANKS JITTERY

Nigerian indigenous oil and gas firms are recording negative cash flows as the plunge in global oil prices lingers, a development that has sent shivers down the spines of many banks.
 
Nigerian banks have in recent years increased their exposure to the nation’s oil and gas sector, providing financing for asset acquisitions and development by indigenous firms.
 

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