Nigeria’s fiscal position remains precarious despite rising oil price

Oil revenue constitutes about 65 percent of government’s revenue and 90 percent of Nigeria’s source of foreign exchange earnings

Bullish crude oil prices since the beginning of the year have raised hope of a better global fiscal performance after severe disruptions caused by COVID-19 pandemic that unsettled oil-dependent economies. The price rise of more than 75 percent since November 2020 has been on account of major econ

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