Saturday 20 October 2018
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allafrica
27 days ago

Nigeria:Why Higher Oil Prices Cripple the Economy

[Vanguard] The crash in the Naira exchange rate from N199=$1 in Dec. 2015 to almost N500=$1, by January 2016, was popularly attributed to the erosion of Nigeria s foreign reserves from a relatively lofty perch around $60bn to a less exotic retreat of about $35bn.

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