This blog post discusses the implications of low oil prices for the Nigerian economy. The price of oil, the commodity that more than any other determines the fortunes of Nigeria, has fallen over 50 percent since June 2014. The country’s 37 billion barrels of oil reserves are now significantly less valuable than before. Previous slumps in prices have spelt disaster for Nigeria and other oil-dependent countries, leading to depleted government coffers, painful fiscal cuts and reduced economic growth. What will be the impact for Nigerians this time around?

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Natural Resource Governance Institute