Buhari says Nigeria faces worst economic situation in its history
Tweet
Share
E-mail
Nigeria's President Muhammadu Buhari is seen on arrival for the international mediation on Gambia election conflict in Banjul, Gambia December 13, 2016 REUTERS/Afolabi Sotunde
ABUJA (Reuters) - Nigeria's President Muhammadu Buhari said on Wednesday the country was facing the worst economic situation in its history, in a speech to lawmakers to present the 2017 budget.
Africa's biggest economy is in recession for the first time in 25 years, largely brought on by low oil prices. The OPEC nation relies on crude oil sales for two-thirds of government revenue.
(Reporting to Paul Carsten and Ulf Laessing,; Writing by Alexis Akwagyiram)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Repsol warns 90% of crude supplies may not meet EU methane rules
- Saudi Grand Mufti tells troops to be ready to sacrifice their lives fighting Houthis
- US Democrats criticize lavish Trump-Xi summit as lacking substance
Create E-mail Alert Related Categories
ReutersRelated Entities
Crude Oil, OPECSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
