19.03.2015 - Oil price slump is choking this OPEC economy
Plunging oil prices are taking a heavy toll on one of Africa's top producers. Nigeria's currency is trading at a record low against the U.S. dollar, the stock market has slumped 15% this year -- making it the worst performer in Africa -- and financial reserves are being depleted. "It's going to be a very difficult year," Nigeria's Finance Minister Ngozi Okonjo-Iweala told CNN. "We've had a more than 50% fall in the price of oil and that has naturally impacted the economy." Nigeria is currently pumping about 1.8 million barrels of crude oil per day, making it OPEC's 7th biggest producer -- alongside Angola...............................................Full Article: Source
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