The lingering decline in crude oil prices, which has greatly affected Nigeria’s revenue from crude oil exports, has taken another dimension in recent months. About 35 million barrels of the country’s crude oil remained unsold at the international market as at December 2014. Sales have been low this year as the fortunes of August and September deliveries remain uncertain, even as oil prices continue to hover on the lower band of $50 a barrel. As it stands, the nation is on a financial cliff and can fall off except a miracle happens. The one commodity that provides life support for the economy has not only seen its price at the international market fall to as low as $48 per barrel, the volume sold is shrinking as well. There is no sign that things will get better soon. The International Energy Agency (IEA) has even predicted that crude oil […]