The Group Managing Director of the NNPC, Mele Kyari, has during the Consultative Roundtable urged Nigerians to buckle up and prepare for challenging times over the course of the next three months due to the aftermath of the Coronavirus epidemic that has plummeted oil prices globally.
The GMD warned Nigerians to brace up for the next three months because even if the price of crude oil were to be restored to $58 per barrel there will still be a backlog of production costs that need to be resolved.
The impact of the international oil market price crash is poised to hugely affect the local economy as it depends heavily on the sale of Oil, as the government has not been able to diversify the economy substantially.
The event hosted by the CBN Governor, Godwin Emefiele, and in attendance were the finance minister, Zainab Ahmed, the ministry of transportation, Amaechi and the Minister of Power, Babatunde Fashola.
Recall that the President had earlier mandated an emergency meeting to revisit the 2020 budget.
