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Doyin Okupe, former senior special assistant on public affairs to ex-President Goodluck Jonathan, says the economic challenges confronting the country are beyond the control of the current administration.
According to the Cable, Okupe lamented the sharp decline in global oil prices, asked the President Muhammadu Buhari-led government to declare a national emergency and amend some of its policies.
He also called on Nigerians to join hands with the government to find a solution to the situation. “These are very critical periods for world economy as it relates to crude Oil production and sales. For a country like Nigeria it becomes more crucial in view of the fact that close to 70% of government revenue comes from sale of crude oil,” he wrote on Facebook.
“In recent times however, the volatility of the oil prices have threatened the stability of the Nigerian economy. “Specifically the present price of crude oil hovering between $26 & $28 US dollar directly undermines the profitability of the crude oil enterprise, as the cost of production of crude in Nigeria is about $30 USD.
- TheCable
According to the Cable, Okupe lamented the sharp decline in global oil prices, asked the President Muhammadu Buhari-led government to declare a national emergency and amend some of its policies.
He also called on Nigerians to join hands with the government to find a solution to the situation. “These are very critical periods for world economy as it relates to crude Oil production and sales. For a country like Nigeria it becomes more crucial in view of the fact that close to 70% of government revenue comes from sale of crude oil,” he wrote on Facebook.
“In recent times however, the volatility of the oil prices have threatened the stability of the Nigerian economy. “Specifically the present price of crude oil hovering between $26 & $28 US dollar directly undermines the profitability of the crude oil enterprise, as the cost of production of crude in Nigeria is about $30 USD.
- TheCable
