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Impact of coronavirus on oil price in Nigeria 2020

Published by Simona Varrella, Mar 5, 2021
Nigeria's economy was significantly impacted by the COVID-19 pandemic. Among others, oil prices experienced a sharp fall and the country lowered the daily crude oil production consistently. In January 2019, the price per barrel amounted to 57 U.S. dollars per barrel, whereas in April 2020 the price dropped by 15 dollars. Crude oil, petrol, and fuel represented Nigeria's main source of export value.

Impact of coronavirus (COVID-19) on price of oil in Nigeria in 2020 (in U.S. dollar per barrel)

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