About This Source - FRANCE 24 English
The video item below is a piece of English language content from France 24. France 24 is a French state-owned international news television network based in Paris.
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FRANCE 24 English published this video item, entitled “Nigeria’s economy hit hard by collapse in oil prices” – below is their description.
Nigeria is officially in recession for the first time in more than a decade, bringing an end to three years of low but positive growth. The African country’s economy relies heavily on oil exports, but the coronavirus pandemic has slashed global demand and the price of oil has plunged. That’s bad news for a country whose budget plans relied on getting a certain price per barrel, a price that now means Nigeria is selling crude at a loss. Our correspondent Moïse Gomes reports from Lagos.FRANCE 24 English YouTube Channel
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In This Story: France
France is a republic and the largest Western European nation. Through expansion and colonisation in the 17th and 18th centuries France became a great power and still retains territories around the world. It has a seat on the UN security council and is the world’s fourth most wealthy country with a high standard of living and strong cultural identity.