Why higher oil prices cripple the economy

By Henry Boyo. THE crash in the Naira exchange rate from N199=$1 in Dec. 2015 to almost N500=$1, by January 2016, was popularly attributed to the erosion of Nigeria's foreign reserves from a relatively lofty perch around $60bn to a less exotic retreat ...

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By Henry Boyo. THE crash in the Naira exchange rate from N199=$1 in Dec. 2015 to almost N500=$1, by January 2016, was popularly attributed to the erosion of Nigeria's foreign reserves from a relatively lofty perch around $60bn to a less exotic retreat ... https://ift.tt/eA8V8J

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