Nigeria’s economy hit hard by collapse in oil prices

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.

Recent from FRANCE 24 English:

  • World Wildlife Day: New livestreams encourage us to keep an eye on reserves
  • ICC begins investigation of alleged crimes in Palestinian Territories since mid-2014
  • Targets for ransom: Outrage in Nigeria over wave of school kidnappings
  • 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

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    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.

    6 Recent Items: France

  • World Wildlife Day: New livestreams encourage us to keep an eye on reserves
  • ICC begins investigation of alleged crimes in Palestinian Territories since mid-2014
  • Targets for ransom: Outrage in Nigeria over wave of school kidnappings
  • Myanmar security forces launch crackdown on protesters in deadliest day since coup
  • Hungary’s ruling party quits European centre-right group
  • Macron admits French forces ‘tortured and murdered’ Algerian freedom fighter
  • In This Story: Nigeria

    Nigeria, an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves. Protected areas such as Cross River National Park and Yankari National Park have waterfalls, dense rainforest, savanna and rare primate habitats. One of the most recognizable sites is Zuma Rock, a 725m-tall monolith outside the capital of Abuja that’s pictured on the national currency.

    2 Recent Items: Nigeria

  • Targets for ransom: Outrage in Nigeria over wave of school kidnappings
  • World Wildlife Day, South Sudan, Nigeria & other topics – Daily Briefing (3 March 2021)
  • Leave a Comment