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Nigeria stares into the abyss of a life without oil cash

Nigeria stares into the abyss of a life without oil cash

May 09, 2020

Africa's most populous nation is getting almost nothing from its massive oil wealth. While headline Brent-crude futures have rallied sharply in the past few weeks - rising above $30 a barrel at one point earlier this week - a glut of Nigerian oil is fetching about $10 less than that. It's a level that means fiscal revenue for the continent's biggest economy has cratered.

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