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Rocky Year Ahead for Nigeria Amid Oil Price Crash

The global fall in the price of oil has rattled the economies of many petroleum producers, and Africa’s oil king Nigeria is no exception, with analysts predicting a rough year ahead. The fortunes of Africa’s largest economy have long been intertwined with the price of oil. But analysts are worried as crude prices have fallen to $35 per barrel from their peak of over $100 a barrel in 2014. Bismarck Rewane, chief executive of Lagos-based advisory firm Financial Derivatives Co., said,...

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