Tag: Oil Boom
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Why Jonathan government didn’t save despite oil boom – Fmr. Minister
A former Minister of Finance, Dr Ngozi Okonjo-Iweala, has linked the failure of former President Goodluck Jonathan’s administration to save for the rainy day, despite oil boom, to the insistence of state governors that funds in the Excess Crude Account must be shared. According to Okonjo-Iweala, as finance minister, with the backing of Jonathan and…
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Failure to diversify economy during oil boom, triggered Nigeria’s recession – CBN
The Central Bank of Nigeria, CBN, has said the country slipped into recession because previous administrations refused to save and diversify the economy during the oil boom days. The apex bank noted that recently there has been a major decline in the prices of oil globally and this has further worsened the economic depression in…