Yesterday, the Monetary Policy Committee of the Central Bank of
Nigeria warned Nigerians to brace for a longer period of low revenue
from oil sources, which would necessitate hard and
uncomfortable choices. .
The committee, in a communiqué, observed that while the period of low
oil prices, which occurred in 2005, lasted for a maximum of 8 months,
the current situation is expected to continue over a longer period of
time. Crude oil prices had declined from a peak of $114 barrel in July
2014 to $30.25 per barrel yesterday.
The CBN Governor. Godwin Emefiele, who read out the communiqué, said
the development would necessitate huge sacrifices from Nigerians. He
added that since oil prices had been on a steady decline, certain
trade-offs would have to be envisaged and accommodated….. even if Kiss
Daniel keeps saying he jst wanna av a good time…..
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