Tife Owolabi/ReutersThis coming year is shaping up to be a difficult one for economies that are disproportionately dependent on oil.
This is especially true for Nigeria, where there’s a possibility of renewed conflict in the country’s oil-producing Niger Delta region, according to SBM Intelligence’s recently published “Nigeria in 2016” report.
The global oil picture is stacked against countries like Nigeria, in which oil constitutes some 10% of the country’s GDP.
Oil plunged to under $38 a barrel by December, with Goldman Sachs raising the possibility that the price could go as low as $20 in the coming year. The implementation of the Iran …read more
Source: Business Insider
