US-Iran tensions: What it could mean for Nigeria Tribune Online - News Summed Up

US-Iran tensions: What it could mean for Nigeria Tribune Online


Nigeria with the second highest crude oil reserves in sub-Saharan Africa (about 37 billion barrels of proven oil), after Libya, has a lot to achieve from the ongoing rift. Also, tensions escalated when Iran shot down a US drone, claiming it was in its airspace which the US military denied. That means Nigeria could increase its output of oil production and grow her revenue. Growth in Nigeria’s oil revenue would provide economic growth and financial increases, which could assist development in other sectors of government. This has been a major source of concern because member states including Nigeria have not been adhering to these rules.


Source: Nigerian Tribune June 26, 2019 20:26 UTC



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