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Nigerians facing hardship because Petroluem exportation crashed to $37 per barrel – Buhari


President Muhammadu Buhari yesterday declared that the country has suddenly become poor, lamenting the fall of price on the exporting of petroleum per barrel.


President Muhammadu Buhari

The president stated this when he received the Executive Director and Under Secretary General of the United Nations Population Fund (UNFPA), Prof Babatunde Osotimehin, at the presidential villa, Abuja.

Recall that Nigeria, on Tuesday, dropped from its first position as the largest economy in Africa, overtaken by South Africa, which is a reflection of the dwindling state of the economy.

Speaking at the meeting, Buhari explained that because of the commitment of his administration to put things in order, Nigerians were really not feeling the severe impact of the poor economy. Buhari said that commitment to transparency and accountability is serving the government in good stead, despite severe shortage of resources in the country.

He said: “It has been a very difficult year for Nigeria. Before we came to office, petroleum sold for about $100 per barrel. Then it crashed to $37, and now oscillates between $40 and $45 per barrel. Suddenly, we’re a poor country, but commitment to transparency and accountability is not making people know that there is severe shortage.”

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