Tuesday, December 9, 2014

Video - Dependency on oil could be trouble for Nigeria

With its new found status, the country's policies are under severe testing. The economy just lost about 40 billion dollars, thanks to devaluation of the naira, a policy decision that followed severe foreign exchange losses as the country tried to protect its currency from depreciation as a result of falling oil revenue.

Related story: Nigeria cuts oil price benchmark due to falling global oil prices

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