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Bullion

Keywords

Crude oil, Oil price, External reserves, Exchange rate management

Abstract

Following recent development in the world oil market, emphasis will be placed on the falling crude oil price which has far reaching implications for economic management in Nigeria. Nigeria depends heavily on crude oil for its revenue and exchange earning, hence the degree of rise or fall in oil price over a period poses concern for the government of the country.

Author Bio

The author is the Director, Monetary Policy Department of the central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

1-3

Volume

39

Included in

Economics Commons

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