Mele Kyari alerts Nigerians – Nigeria at risk if crude oil price falls to $22
The head of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has issued a warning that Nigeria might be forced out of the crude oil business if the current plummeting price falls to $22.
Kyari, who made the warning at a consultative roundtable organized by the Central Bank of Nigeria, cautioned Nigerians to brace for tough times even if the price of crude oil in the international market rises above $50 from the current $30 per barrel.
The NNPC Boss attributed the crash in crude oil price to the stranding of 12 Liquefied Natural Gas (LNG) cargoes globally due to the abrupt collapse in demand associated specifically with the coronavirus.
Kyari stated;
“Today there are over 12 Liquefied Natural Gas (LNG)...