Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Environment
    • Community Development
    • Renewable Energy
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria suffering from crash in oil prices – Buhari

    Nigeria suffering from crash in oil prices – Buhari

    August 12, 2016
    Share
    Facebook Twitter LinkedIn WhatsApp
    *President Muhammadu Buhari.
    *President Muhammadu Buhari.

    Oscarline Onwuemenyi

    12 August 2016, Sweetcrude, Abuja – President Muhammadu Buhari has lamented the poor state of the economy which resulted from the global crash in oil prices, adding that only his administration’s commitment to transparency and accountability is serving the government in good stead despite the severe shortage of resources in the country.

    A statement issued in Abuja on Thursday by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said Buhari‎ spoke at the State House, Abuja while receiving the United Nations Population Fund (UNFPA) Executive Director and the Under-Secretary-General of the United Nations, Prof. Babatunde Osotimehin.

    President Buhari said the sudden fall in oil price in the international market has made Nigeria become a poor country.

    The president 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.”

    Asking UNFPA to bear with Nigeria in whichever area the country could not live up to its responsibilities for now, Buhari said exploding population and different cultural practices in the country provided fertile ground for research to organisations like UNFPA.

    The President thanked the UN agency for its commitment to saving lives in Nigeria, particularly of women and children.

    On food security, Buhari said reports from the North-East of the country were encouraging, as people were returning to their farmlands, with the guarantee of relative security.

    Osotimehin, a former Minister of Health, said UNFPA was determined to promote health care facilities across the country, noting that reduction of maternal mortality was doable, if the country paid more attention to access to health facilities, and human resources to run them.

    He also encouraged Nigeria to be committed to providing resources for health care, on a rollover basis, pledging that the UN would work with the country to provide humanitarian assistance not only in the North-East, “but even extended to the Lake Chad basin.”

    Related News

    Chevron continues to look at new opportunities in Middle East, CEO say

    NNPC uncovers rising pipeline theft, records 24 cases in 18 months

    NCDMB backs Renaissance’s HCD training for Assa North-Ohaji South

    E-book
    Resilience Exhibition

    Latest News

    Chevron continues to look at new opportunities in Middle East, CEO say

    June 13, 2026

    NNPC uncovers rising pipeline theft, records 24 cases in 18 months

    June 12, 2026

    Nigeria moves to unlock 209TCF gas wealth through local utilisation drive

    June 12, 2026

    EFCC uncovers N4.4bn gold smuggling ring in Kano

    June 12, 2026

    Mambilla power fraud: Witness explains FEC document certification dispute

    June 12, 2026
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2026 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.