Falling Oil Price And Covid-19 To Contract Nigeria’s Economy In 2020

Nigeria’s economy is projected to contract by 2.4 percent in 2020, according to a report by Reuters.

Report says the projected fall in economic growth is due to fall in global oil prices and the coronavirus pandemic.

Petroleum price in Nigeria has reportedly fallen by $20 per barrow.

The country has recorded 98 deaths from coronavirus, according to the Nigeria Centre for Disease Control.Reuters@Reuters

Nigeria’s economy is expected to contract due to dwindling oil revenues and global lockdowns

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