Prince Alwaleed had said this not too long after the dip in Oil Price.
As can be seen from the figure below, it seems what the Prince had forecast is playing out before our visible eyes.
Nigeria, with huge exports of the commodity within the period of high price should before now possess all it takes to stimulate her economy. All we see is a contrary. Who gets the blame?
Buhari had said: “The
fall of oil prices is a disaster. If from 1999, oil sold above $100 per barrel
with an export of about two million barrels per day, how come Nigeria failed to
make some arrangement to cushion the effect of a probably volatile oil market?
Again, it shows failure of the last administration.
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