Coronavirus: Prepare for trouble, NNPC GMD tells Nigerians

…CBN to fund local drugs production, specialist hospitals

Faced with global oil price crash, the Group Managing Director (GMD) Mr. Mele Kyari has alerted the nation of the consequences, asking Nigerians to prepare for trouble.

Oil prices have fallen to about $32 per barrel while Nigeria’s federal government 2020 budget was benchmarked at $57 per barrel.

Even at that low price, he revealed that demand for crude had fallen so much 50 cargoes of Nigeria’s crude had not found buyers.

Mr. Kyari spoke this morning, at the on-going Consultative Roundtable on the economy in Abuja.

In his address, the CBN Governor, Mr. Godwin Emefiele, disclosed that the apex bank would fund local drugs production and the establishment of specialist hospitals in the country.