Oil prices: Buhari holds emergency meeting

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President Muhammadu Buhari on Monday held an emergency meeting with some members of his cabinet to find a way out of the fresh revenue crisis facing Nigeria in the wake of a heavy crash of global oil prices.

Oil prices fell back 30 per cent after Saudi Arabia and Russia failed to reach a deal on price cuts and supplies.

The development caused a global tremor as stock markets reacted negatively go the news.

Buhari invited the Minister of Finance, Zainab Ahmed; Governor of the Central Bank of Nigeria, Godwin Emefiele; Minister of State for Petroleum, Timipre Sylva, and other top government officials to the meeting at the State House.

The resolutions at the meeting were not announced but Ahmed had recently said government would take measures to respond adequately to the global economic crisis caused by the novel Coronavirus.

She had also give a hint that the 2020 budget would be reviewed.

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