The Group Managing Director (GMD), NNPC, Mr. Mele Kyari has come out to say that Nigerians should prepare for trouble as the world experiences global oil price crash.
Oil prices have fallen to about $32 per barrel while the nation’s federal government 2020 budget was benchmarked at $57 per barrel.
Even at the low price, Kyari disclosed that demand for crude has reduced so much that 50 cargoes of Nigeria’s crude have not found buyers.
Mele revealed this today at the on-going Consultative Roundtable on the economy in Abuja.
In his statement, the CBN Governor, Mr. Godwin Emefiele, revealed tha the top bank would fund local drugs production and the establishment of specialist hospitals in Nigeria.